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Jigar Shah's picture
Director, Loan Programs Office , U.S. Department of Energy

Jigar Shah was most recently co-founder and President at Generate Capital, where he focused on helping entrepreneurs accelerate decarbonization solutions through the use of low-cost...

  • Member since 2017
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  • Dec 27, 2022
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It's been a great year of hard work and clean energy progress at the U.S. Department of Energy (DOE) and DOE Loan Programs Office!

From DOE's "Top Accomplishments in 2022":

"Loans Out the Door: In 2022, our Loan Programs Office (LPO) made its first loans in over three years. In June, LPO announced a $504 million loan guarantee to the Advanced Clean Energy Storage project in Utah to help finance construction of the largest clean hydrogen storage facility in the world—LPO’s first loan guarantee for a clean energy project in nearly a decade.

The following month, LPO announced the financial close for a $102.1 million loan to Syrah Technologies LLC for the expansion of a processing facility for a critical material used in lithium-ion batteries for electric vehicles (EVs) and other clean energy technologies—the first loan from the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program in over a decade.

In December, LPO announced a $2.5 billion loan to Ultium Cells LLC to build help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan to support the domestic EV industry."

 

Reposted to Energy Central from: https://www.linkedin.com/company/doe-loan-programs-office/ 

Discussions
Matt Chester's picture
Matt Chester on Dec 27, 2022

No doubt a landmark year for federal energy policy in 2022, and I know so many of us are looking forward to what that means for even more progress and success in 2023 and beyond. Thanks for all the diligent work you and your teams do, Jigar!

Mark Silverstone's picture
Mark Silverstone on Dec 28, 2022

Yes, progress has reallly been beyond any predictions at the end of 2021. I hope the momemtum can be sustained in 2023. It certainly will not be an easy task. But the administration has exceeded expectations again and again.

Jigar Shah's picture
Thank Jigar for the Post!
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