Major concerns have arisen regarding Democrat Governor Michelle Lujan Grisham’s proposed $600 million solar manufacturing initiative. An in-depth front-page report from the Albuquerque Journal has revealed several troubling issues surrounding the company behind this project.
Central to Lujan Grisham’s solar plans, the company is under investigation for violating federal securities laws. In addition to this legal scrutiny, the company has faced significant delays in releasing its financial reports, which has contributed to a substantial drop in its stock price. Perhaps most concerning is that the largest shareholder in the company is now a Chinese-based firm.
“These are some serious red flags, and New Mexico’s elected officials should be demanding real answers before sending millions down this road,” said Larry Behrens, Communications Director for Power The Future. “Of its many flaws, the main problem with the Inflation Reduction Act is that it leaves taxpayers on the hook for footing costs with little to no guarantee of results. And the fact a Chinese company would benefit from any profits only makes it worse. This is just the latest data point to prove the green industry can’t stand up without massive handouts from hardworking New Mexicans.”
The issues with the company have all emerged since Governor Lujan Grisham announced the partnership last August. Additionally, the company has already missed the governor’s promised deadline to break ground on their facility at the beginning of 2024.
Power The Future, a 501c4 non-profit organization dedicated to advocating for American energy workers, has been vocal in its criticism of the deal. Behrens emphasized the need for greater scrutiny and accountability before committing substantial taxpayer funds to the project.
The proposed solar manufacturing deal was initially hailed as a significant step forward in New Mexico’s renewable energy efforts. However, the recent revelations have cast a shadow over the project’s viability and the decision-making process behind it. Critics argue that without thorough vetting and stringent oversight, the state risks investing in a venture that may not deliver the promised economic or environmental benefits.
As the debate continues, New Mexico’s taxpayers and elected officials must carefully weigh the potential risks and rewards associated with the solar manufacturing initiative. The involvement of a Chinese-based company and the company’s current legal and financial troubles only add to the complexity of the decision.
In light of these developments, calls for transparency and due diligence are growing louder. It remains to be seen how Governor Lujan Grisham and her administration will address these concerns and what steps will be taken to ensure that any future investments in renewable energy are both responsible and beneficial for New Mexico’s citizens.
“Who” “What” “When” “Where” “Why” “How”. I don’t understand why you’re hiding “Who” – the name of “the company”. Not a great specimen of journalism.
The huge red flag is China’s!
Busted!
The green new scam.
Didn’t MLG also purchase 500 Million DEFECTIVE face masks from CHINA during the pandemic? That was also taxpayer money.
She’s a repeat offender!
Good point
Regular New Mexicans don’t care they are thinking of how they are gonna feed the family put gas in their cars to get to work. The Elite are gonna do what they want.
The report is referring to Maxeon Solar Technologies, the Singapore-based company that Governor Michelle Lujan Grisham announced a $600 million deal with to build a major solar panel manufacturing facility in Albuquerque, New Mexico.
Key Concerns Raised About Maxeon Solar Technologies
Maxeon is under investigation for violating federal securities laws.
The company has faced significant delays in releasing its financial reports, leading to a substantial drop in its stock price.[query]
Maxeon’s largest shareholder is now a Chinese-based firm, raising concerns about potential Chinese involvement or benefit from the project.
Maxeon has already missed the promised deadline set by Governor Lujan Grisham to break ground on the facility in early 2024.
The revelations about Maxeon’s legal troubles, financial issues, Chinese ownership, and missed deadlines have cast doubt on the viability of the $600 million solar manufacturing deal announced by Governor Lujan Grisham in August 2023. Critics argue that taxpayer funds should not be committed to the project without thorough vetting and oversight to ensure it delivers promised economic and environmental benefits for New Mexico.
The Green New Steal
Nobe of the PowerPoint generated was coming to New Mexico
How much taxpayers money was put into MLG’s personal 501 c 3 and her private shell companie(s) offshore accounts slush fund and assorted kickbacks after she is booted in 2026?
Somebody’s gotta pay for all those wagyu beef steaks in her retirement….
Asking for a firend.
We should build it at Richardson’s spaceport!?
Anyone ever wonder how much water it takes to manufacture solar panels? There is more to the cost than just soaking taxpayers…..
…or leaving Albuquerque with no water!
Over and over I say elections have consequences, it is time New Mexicans grow a set of eggs and vote the marxist democrats out of control. It is “We the People” not we the government. Talk to your co workers, talk to your neighbors, get them to vote there conservative consous.
Well Said
One solar plant was tried in Socorro about 15 years ago. The building was poorly constructed and it took 5 years to repair. The solar company never moved in, no people were employed and the building is now up for sale. Solar is a failed and suspicious industry. Plus how much additional heat is going up into the atmosphere from these huge solar fields because the heat above is much hotter than the ambient heat away from the fields.