Project Polo

On November 25, 2024, LPO announced a conditional commitment of up to $289.7 million to Sunwealth to help finance Project Polo, a deployment of up to 1,000 solar photovoltaic (PV) systems and battery energy storage systems (BESS).

As part of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy (DOE) Loan Programs Office (LPO) today announced a conditional commitment for a loan guarantee of up to $289.7 million to Sunwealth Holdco 18 LLC’s (Sunwealth) Project Polo. The loan guarantee, if finalized, will finance the deployment of up to 1,000 solar photovoltaic (PV) systems and battery energy storage systems (BESS) located primarily at commercial and industrial facilities and integrated across up to 27 states.  Today’s announcement underscores President Biden and Vice President Harris’ commitment to expanding access to affordable renewable energy and high-quality jobs in renewable energy sectors across the United States.

As the U.S. economy rapidly decarbonizes and domestic manufacturing scales up, spurred by the incentives in the Biden-Harris Administration’s Investing in America agenda, the grid will face an increase in demand. VPPs can help facilitate the clean energy transition by optimizing resource utilization and coordinating demand response. VPPs aggregate electrified, grid-connected devices such as solar-plus-storage systems, grid-interactive efficient buildings, air conditioners, and electric vehicles and their associated charging infrastructure. Sunwealth’s distributed energy resources (DERs) in concert with SYSO’s software platform will store and generate significant amounts of energy. VPPs often provide energy at a lower levelized cost than traditional options, doing so more cleanly while offering consumers greater resilience during grid disruptions.