Sunnova Energy Corporation’s Project Hestia, which recently received a $3 billion partial loan guarantee by the Loan Programs Office, was recognized by International Finance Review (IFR) in its IFR Awards 2023, in the publication’s Structured Finance Awards category.
February 6, 2024
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Sunnova Energy Corporation’s Project Hestia, which recently received a $3 billion partial loan guarantee by the U.S. Department of Energy (DOE) Loan Programs Office (LPO), was recognized by International Finance Review (IFR) in its IFR Awards 2023, in the publication’s Structured Finance Awards category.
Project Hestia will make distributed energy resources—including residential rooftop solar, battery storage, and virtual power plant-ready, consumer-facing software—available to more American homeowners.
The project is the single largest commitment ever made by the Federal Government to solar power and DOE’s first loan guarantee for a virtual power plant. Project Hestia will provide loans for clean energy systems for approximately 75,000 to 115,000 homeowners throughout the United States, including Puerto Rico—benefiting disadvantaged communities facing high energy burdens that would otherwise have difficulty accessing clean energy. LPO closed the partial loan guarantee in September 2023.
Read more about the project in the IFA Awards 2023 here.
Read more about Project Hestia here (leer en español).
Jigar Shah
Former Director, Loan Programs Office
Jigar Shah served as Director of the Loan Programs Office (LPO) at the U.S. Department of Energy (DOE) from March 2021 to January 2025. He led and directed LPO’s loan authority to support deployment of innovative clean energy, advanced transportation, and Tribal energy projects in the United States. Prior, Shah was co-founder and President at Generate Capital, where he focused on helping entrepreneurs accelerate decarbonization solutions through the use of low-cost infrastructure-as-a service financing. Prior to Generate Capital, Shah founded SunEdison, a company that pioneered “pay as you save” solar financing. After SunEdison, Shah served as the founding CEO of the Carbon War Room, a global non-profit founded by Sir Richard Branson and Virgin Unite to help entrepreneurs address climate change.
Shah was also featured in TIME's list of the "100 Most Influential People" in 2024.
Originally from Illinois, Shah holds a B.S. from the University of Illinois-UC and an MBA from the University of Maryland College Park.