United States Department of Energy
Value Recovery Holding, LLC (VRH) is the prime contractor for the Department of Energy’s Loan Programs Office (LPO) support services contract. Under this contract VRH supports all of the offices in the LPO with the exception of legal. VRH currently manages approximately 150 contractors, which equates to approximately 70 FTEs. To date, there have been 32 Task orders issued under this contract. These task orders have requested work which ranged from financial analyses and advisory for the program’s Origination Team, technical analyses for our Engineering and Technology Division, risk analyses for our Credit Division, environmental analyses for our NEPA division, Portfolio Management Division support to monitor to active performing, sub-performing and non-performing loans, as well as operational and administrative support, including external affairs, legislative affairs, budgeting, audit support, performance assessment, management and reporting, management information system development and program management support.
Our Intake and Origination teams provide analyses of each application, which have been over 400 submitted thus far to the LPO. The Intake team evaluates the applications for eligibility and completeness and to some extent viability. Upon completeness of the intake review, the eligible applications are then turned over to the Origination team. The team conducts a detailed financial analysis and due diligence of the applications and the borrowers and ushers them through the due diligence process to ultimately financial close.
Our Credit team consists of some of the most talented and well respected financial minds in the United States. This team led the efforts for structuring $40 billion ($10 billion in pipeline) worth of projects, many of them being first of their kind. This has led to the LPO now being called the largest energy project finance bank in the world.
Our Technical and NEPA teams conduct due diligence on every project that is put forth by the Origination team. The Technical team evaluates the technical and engineering specifications to see if the projects can become operational at commercial scale, as many of these technologies are considered innovative and have never been tested at commercial scale. The NEPA team reviews projects for the necessary level of environmental review, then ensures that either a categorical exclusion is justified or the environmental assessment or environmental impact study are sought, completed and accepted.
Our Portfolio Management team manages approximately 33 projects in a wide range of renewable energy sectors, both in power generation and manufacturing. This team consists of financial, technical, environmental, reporting, compliance and administrative professionals. Our team has led the efforts in designing, developing and implementing the management information system that houses all of the data for these loans and allows for detailed monitoring of the projects. In addition, our team has provided training to a significant portion of the LPO on the systems we have developed.
VRH supports virtually all of the LPO operations, we fully staff the external affairs team and the IT and systems development teams. Our team also led the effort to design, implement and manage a state of the art records management system. We have built multiple proprietary software systems to allow the LPO to manage its operations, and the overall enterprise system is known as Quicksilver. This system has won numerous awards, including the Gold Prize for Excellence in Business Process Management & Workflow for North America. This was the first time ever a federal agency has won this award in 17 years. In addition, we use industry and government wide best practices to support the overall program management of the LPO, which includes a sophisticated dashboard reporting tool developed by our team.
The team overall has assisted DOE in accelerating the green economy and helped facilitate getting over thirty projects into the market. This effort resulted in a major shift forward for renewable energy in the United States. Our team is experienced and has all the components to help take a program from the pilot stage to a full scale, fully operational and successfully energy program.