JOURNAL ARTICLE

GOP Seeks Probe of Plug Power's $1.7 Billion in US Backing.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Natter, Ari 3 of 3

Abstract

Senator John Barrasso, a top Senate Republican, has requested a government watchdog to investigate the $1.7 billion in financing offered to hydrogen company Plug Power Inc. Barrasso alleges potential conflicts of interest and risks to US taxpayers. The Biden administration offered Plug Power a conditional commitment for $1.66 billion in loan guarantees to build up to six facilities. Barrasso is concerned about the relationship between Plug Power's director and a lobbyist, as well as the company's financial viability after losing over $1.3 billion in 2023. Republicans have been targeting the Energy Department's loan program, aiming to find failures similar to Solyndra. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/06, pN.PAG
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2024
  • Accession Number:177676722
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