CCP-linked firms quietly hold stakes in US solar companies fueling Dems' green push
A pair of major North American solar companies, including one touted by Senate Democrats in 2023, could face scrutiny over their ties to China.While the feds have created barriers to...
By Fox News · Fox News
A pair of major North American solar companies, including one touted by Senate Democrats in 2023, could face scrutiny over their ties to China. While the feds have created barriers to Chinese firms flooding the solar market, many have found ways to localize operations in the U.S. or North America in a manner that allows for public investment and even deferential press coverage at times. After then-President Joe Biden signed the Inflation Reduction Act, Senate Democrats praised the law for its substantive investments in "green" energy, including solar. One company that received top billing was an Ontario-based firm that was founded by a Chinese entrepreneur and keeps much of its assets in China. "The Inflation Reduction Act is already paying huge dividends for the American people," blared a topline from Senate Democrats in 2023 after investments were being made in several companies. ARREST OF CHINESE NATIONALS IN SWING STATE, ISRAEL'S FIGHT WITH IRAN ARE 'WAKE UP' CALL ON CCP THREAT: EXPERTS The release cited a Reuters report that Canadian Solar – based in Guelph , Ontario, but founded by Qu Xiaohua and with its main operating arm listed on Shanghai’s SciTech board – committed to $250 million to a 5GW module facility in Texas after the IRA took effect. Trina Solar North America president Steven Zhu boasted to China Daily , a Chinese state-run propaganda outlet, that the project represents "a significant investment in American manufacturing that will bolster the U.S. solar market in addition to positioning Texas as a leader in the transition to a sustainable future." Canadian Solar saw a 34% spike in its stock performance in the first half of 2022, according to a Benzinga analysis, which quoted company CEO Shawn Qu as saying he was "excited to see the [IRA] in the U.S. coming into effect." The report said "alternative energy companies" like Canadian Solar stood to get a leg up thanks to about $370 billion in subsidies from the IRA. THINK TANK FOUNDER FACES SCRUTINY O…