A signature Biden law aimed to boost renewable energy. It also helped a solar company reap billions

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John Podesta,Al Gore,Joe Biden

One of President Joe Biden’s signature laws aimed to invigorate renewable energy manufacturing in the U.S. It will also help a solar panel company reap billions of dollars.

FILE - Workers continue to build rows of solar panels at a Mesquite Solar 1 facility under construction in Arlington, Ariz., Sept. 30, 2011. One of President Joe Biden's signature laws aimed to invigorate renewable energy manufacturing in the U.S. It will also helped a solar panel company reap billions of dollars.

“President Biden has led and delivered on the most ambitious climate agenda in history, restoring America’s climate leadership at home and abroad," Fernández Hernández said in a statement. “The White House regularly engages with industry leaders across all sectors, including clean energy manufacturers and gas and oil producers.

Last December, First Solar agreed to sell roughly $650 million of these credits to a tech company — providing a massive influx of cash, courtesy of the U.S. government. A day after the two lawmakers began meeting, Democratic megadonor Jim Simons, an enthusiastic backer of the party's green energy efforts, gave $2.5 million to Schumer’s super PAC, which spends tens of millions of dollars each election season supporting Senate Democrats.

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