A private trade association founded by the Biden administration’s energy loan czar Jigar Shah has become a gatekeeper for companies seeking billions of dollars in financing from Shah’s office.
The Cleantech Leaders Roundtable has seen a surge in its influence and revenue since its former president, Shah, was tapped to lead the powerful $400 billion Department of Energy Loan Programs Office (LPO) in 2021.
The group, which didn’t have a website until three years ago, now regularly hosts sold-out receptions featuring Shah for its paying members across the country. Last week, the DOE Loans Program Office and Cleantech Leaders co-hosted an invitation-only conference in Washington, D.C., for companies looking for loans—and Cleantech Leaders was in charge of the invite list and ticket sales.
During this time, companies connected to the trade association have raked in cash from Shah’s office. Last week, the Loan Programs Office approved a $3 billion loan to a solar company led by Cleantech Leaders’s board director. The group’s corporate sponsors have also pulled in funding.