NJEDA Issues Request for Expressions of Interest for New Jersey Green Fund Financial Support
TRENTON, N.J. (December 1, 2023) –The New Jersey Economic Development Authority (NJEDA) has issued a Request for Expressions of interest (“RFEI”) to identify specific sites, projects, or assets that are interested in financial support from its planned New Jersey Green Fund (“NJGF”). The RFEI can be found here, with responses due by January 12, 2024.
WHAT: The planned NJGF aims to facilitate an equitable clean energy transition in New Jersey by attracting private capital to enable the State to meet its ambitious clean energy goals while also providing measurable benefits to its Overburdened Communities. The NJGF may offer financial products and support to stimulate larger private capital investments for, and deployment at scale of, clean energy technologies within New Jersey. This RFEI will help the NJGF identify parties interested in accessing at least $5 million capital from NJGF for projects primarily located in the State. Projects and assets may fall within the priority categories of clean energy generation and storage, zero-emission transportation, building decarbonization and resiliency, or any other topic related to achieving the State’s clean energy goals.
WHEN: Responses to the RFEI must be submitted via email to NJGFrfei@njeda.gov no later than 5:00 p.m. ET on January 12, 2024. Questions regarding the RFEI process or content may be submitted via email no later than 5:00 p.m. ET on December 15, 2023.
WHO: Potential Respondents to the RFEI may include but are not limited to:
- Property owners
- Real estate developers
- Renewable energy developers & operators
- Financial institutions
- Non-profit organizations
- Venture and private equity groups
- Community-based organizations, including those representing Environmental Justice Communities
- Other private entities
Respondents can submit multiple proposals to the RFEI, or include reference to multiple projects in one comprehensive proposal. Please note, providing a response to this RFEI is not a formal application for funding nor a binding intent to pursue investment opportunities that may be made available through the NJGF in the future. Future opportunities will be made available for Respondents and other members of the public to apply for NJGF funding regardless of whether they respond to the RFEI.
About the NJEDA and the NJGF
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness, which include several programs that finance clean energy investments. Building on NJEDA’s track record of supporting the growth of clean energy technologies, Governor Murphy and the State legislature allocated capital in the FYE ‘24 Budget to the New Jersey Green Fund (NJGF), which is currently being organized within NJEDA to invest in clean energy projects in the State.
February 29, 2024
NOTICE OF NJEDA BOARD MEETING - 03/07/2024
The New Jersey Economic Development Authority's next public Board Meeting will be held in person and via teleconference on Thursday, March 7, 2024, at 10:00 am.
February 20, 2024
NJEDA to Create Grant Program to Help Small Business Owners Purchase Commercial Properties
TRENTON, N.J. (February 20, 2024) – The Board of the New Jersey Economic Development Authority (NJEDA) has approved the creation of a pilot program that will help boost small business owners’ liquidity following the purchase of a commercial property.
February 15, 2024
NJEDA to Hold Monthly Office Hours Highlighting Innovation Programs
TRENTON, N.J. (February 15, 2024) – To respond to challenges faced by New Jersey technology and biotechnology companies in raising capital, the New Jersey Economic Development Authority (NJEDA) is launching monthly Innovation Programs Office Hours to highlight programs offered by the Authority to stimulate the innovation economy.