The Loan Programs Office (LPO) publishes the Annual Portfolio Status Report (APSR) each year to share how its portfolio of clean energy and advanced transportation projects is performing.
April 24, 2023
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The Bipartisan Infrastructure Law and Inflation Reduction Act greatly increased LPO’s capacity to promote critical investments in energy technology, transportation, and critical infrastructure in the United States; and LPO moved quickly and carefully to implement these changes in an effective manner that fulfills the mission of the office while protecting taxpayer resources. All told, FY 2022 marked the beginning of a new era of opportunities for federal support for low-carbon innovation and new avenues of economic growth.
LPO achieved 4 new conditional commitments for over $4B in loans in FY 2022, significantly advancing its mission to empower the private sector in the clean energy transition. In FY 2022, LPO also closed its first loans in both its Title 17 and ATVM programs since 2015.
Every active LPO borrower remaining in the portfolio repaid principal in FY 2022, achieving $1.7 billion in principal retirement and $523 million in interest payments to the U.S. Treasury. Cumulative principal payments now exceed $13.7 billion, 43% of the $31.6 billion LPO has disbursed. The portfolio remains concentrated in creditworthy assets, with 70% of exposure held by investment-grade borrowers, and it maintains a low aggregate loss rate of 3% of funds disbursed.
Read the full report or view the presentation deck to learn more:
LPO FY 2022 Annual Portfolio Status Report
LPO FY 2022 Annual Portfolio Status Report's Presentation Deck
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.