Jigar Shah, who served as Director of the Loan Programs Office (LPO) at the U.S. Department of Energy from March 2021 to January 2025, played a significant role in advancing clean energy initiatives in the United States. During his tenure, LPO announced 53 deals amounting to approximately $107.57 billion in project investments. These efforts supported job creation and pollution prevention while enhancing American competitiveness.
Shah stated, "These past four years have been the most productive in LPO’s history." Under his leadership, the office processed an average of three transactions per month and moved at what he described as "the speed of business."
The vision articulated for LPO was to serve as a catalyst for a new American clean energy industrial strategy. The implementation of policies like the Bipartisan Infrastructure Law and the Inflation Reduction Act has seen U.S. clean energy investment more than double from $111 billion in 2020 to $236 billion in 2023, creating over 400,000 jobs.
The United States is leveraging its next-generation technology amid geopolitical competition with China. Domestically, electricity growth rate projections have tripled with demand expected to increase by 15.8% by 2029.
In 2024 alone, LPO closed several key loans and loan guarantees across various states that aim to catalyze trillion-dollar industries over the next decade. Notable projects include a $1.52 billion loan guarantee for Holtec Palisades nuclear power plant restart and support for Puerto Rico's energy resilience through Project Marahu.
"Meeting the moment requires building on current momentum," said Shah about America's opportunity to dominate future global energy markets.
LPO's pipeline includes over 160 applicants seeking more than $200 billion in loan proceeds as of January 17th. This illustrates potential advancements in strengthening domestic manufacturing and modernizing grids while fostering economic development led by power needs tied to AI advancements.
