BREAKING: Pingree helped King get $102 million Federal loan guarantee
The Maine Wire has obtained a letter sent from U.S Congresswoman Chellie Pingree (D- Maine) to the Department of Energy in support of Angus King’s Record Hill Wind project. Record Hill was named last week in a report from the House Committee on Oversight and Government Reform as one of a number of companies that received federal loan guarantees under questionable circumstances. King’s company received a $102 million government loan guarantee, despite having more than sufficient cash on hand for the project, as well as the backing from the $8 billion Yale Endowment.
King’s company applied for the loan guarantee under an ‘innovative technology’ grant. The report shows that King’s technology was not, in fact, innovative- it has been widely used commercially before the Record Hill project.
King’s campaign claims the candidate knew nothing about the congressional investigation, despite a letter from the committee to King’s business partner six days before the report went public......
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