Biden’s former energy loan czar is helping green companies he funded with billions in taxpayer dollars flee to Europe — after bankrolling his former business partner.
At a Glance
- Jigar Shah, Biden’s former DOE loan czar, distributed billions to green energy companies and is now helping them relocate to Europe
- Shah had financial ties to Plug Power before approving a $1.5 billion loan to the struggling company
- Companies that received federal funding are fleeing the US due to potential federal funding cuts under Trump
- Shah’s close relationships with loan recipients raise serious conflict of interest concerns
- Taxpayer-funded green companies are seeking European subsidies after draining American coffers
From American Taxpayers to European Subsidies
In a move that perfectly encapsulates the “America Last” mentality of the Biden administration, former Department of Energy loan czar Jigar Shah is now actively helping green energy companies he showered with billions in taxpayer dollars relocate to Europe. After spending years directing vast sums from American wallets to dubious “green” ventures, Shah is now consulting with European officials about moving these same companies overseas. This betrayal comes as many of these companies face financial collapse despite their government lifelines.
According to Bloomberg, Shah has been “talking to officials in Brussels about re-domiciling companies in Europe” — the very same companies he helped fund with American tax dollars. This outrageous development reveals the true nature of the green energy scam: drain American resources, then flee to the next government trough when the money runs out. Meanwhile, American workers and taxpayers are left holding the bag while watching jobs and infrastructure disappear overseas.
Conflicts of Interest and Crony Capitalism
The story gets even more disturbing when you follow the money. Before joining the Biden administration, Shah founded Generate Capital, an investment firm with deep financial ties to Plug Power — a struggling green energy company. Under Shah’s direction at the DOE, Plug Power miraculously qualified for a $1.5 billion federal loan, despite teetering on the edge of bankruptcy. This glaring conflict of interest makes a mockery of government oversight and ethical standards.
“Such an intertwining of personal, political, and professional relationships raises further questions about the impartiality of loan approvals and the susceptibility of the process to undue political influence.” – Senator John Barrasso
The incestuous relationship between Shah and Plug Power reveals everything wrong with the government picking winners and losers in the marketplace. Generate Capital provided over $100 million in loans to Plug Power at a 9% interest rate. Once that sweet deal was complete, Shah moved to the DOE and arranged for taxpayers to provide an even bigger bailout. Plug Power even referred to Generate Capital as a “longstanding partner” — a partnership that apparently extended to looting the federal treasury.
The Great Green Energy Exodus
Now, with the Biden administration heading for the exits, these federally-funded companies are looking to jump ship too. Plug Power CEO Andy Marsh cited “uncertainty about clean energy programs” as the company lays off workers and contemplates shifting focus to Europe. Translation: without unlimited government handouts under a second Trump term, these companies can’t survive in a free market. So instead of competing like real businesses, they’re seeking fresh government handouts from European bureaucrats.
“many of the companies that benefited from Biden-era programs [that] are now looking to shift all or part of their business outside the US” – Bloomberg
It’s hard to imagine a more perfect illustration of why government should stay out of the energy business. First, American taxpayers are forced to fund unviable companies with political connections. Then when the gravy train threatens to stop, these companies abandon America entirely. Meanwhile, the bureaucrat who orchestrated this disaster is profiting by helping them flee to the next source of government largesse. The whole green energy industry increasingly looks less like innovation and more like a sophisticated scheme to transfer wealth from taxpayers to politically-connected insiders.
Time to End the Green Energy Grift
Energy Secretary Chris Wright has suggested the possibility of canceling certain loans, focusing on funding that actually benefits Americans rather than well-connected grifters. What a novel concept — government spending that puts American interests first! Perhaps we should also investigate officials like Shah who treat the federal treasury like a personal piggy bank for friends and business associates, then help those same companies abandon America when the political winds shift.
The next administration has an opportunity to end this corrupt cycle of green energy boondoggles. Let viable energy solutions compete in the marketplace without government picking winners and losers. And perhaps most importantly, let’s demand accountability from those who directed billions in taxpayer funds to companies that are now fleeing the country. American energy independence deserves better than being treated as a political slush fund by climate ideologues with conflicts of interest deeper than an offshore oil well.
