The Ledger

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Disclosure
Shah: DOE loan exclusively funds ACES hydrogen storage, not gas plant
“Our money is not being used at all for that. So our money, the project that we're funding is an electrolyzer project using a salt dome as storage, right? So none of our money is going to a new natural gas facility.”
Jigar Shah Apr 28, 2022 ▶ 9:17 Hydrogen, meet salt cavern
Disclosure
Shah: DOE Loan Programs Office backs misunderstood technologies, not binary risk
“We're not supposed to get involved in stuff that truly has binary risk associated with it. We're supposed to get involved where, you know, things are misunderstood.”
Jigar Shah Jan 10, 2022 ▶ 21:07 Inside the Energy Department's loan deal to back hydrogen
Disclosure
Shah: DOE Loan Programs Office provides market-rate debt, not subsidies
“I mean, in general, we're a liquidity instrument. We're not, A subsidy instrument, right? So maybe our interest rates are more competitive than commercial debt might be, but that's not intended to be a subsidy. It's intended to be you know, market rate debt”
Jigar Shah Jan 10, 2022 ▶ 19:26 Inside the Energy Department's loan deal to back hydrogen
Disclosure
Shah: DOE is underwriting ACES hydrogen loan solely to power offtake
“That's exactly right. We're underwriting to the power, and, you know, and the renewed generation facility will be owned by Intermountain Power Agency and so, so that, so, so that is what we're underwriting to.”
Jigar Shah Apr 28, 2022 ▶ 8:14 Hydrogen, meet salt cavern
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