NJEDA to Extend Submission Deadline for the New Jersey Green Fund RFEI

TRENTON, N.J. (January 29, 2024) – The New Jersey Economic Development Authority (NJEDA) is extending the deadline of its Request for Expressions of Interest (RFEI) for the planned New Jersey Green Fund (NJGF) indefinitely, until a formal application is launched. Through the RFEI, the NJEDA seeks proposals for NJGF support that provide a high-level overview of potential sites, projects, or assets and financing needs.

WHAT:            The planned NJGF will make clean energy investments to help facilitate an equitable energy transition in the State. Planned NJGF investments, which may include equity investments, credit enhancements, loans and/or other financial vehicles, will be aimed to attract private capital to enable New Jersey to reach its energy goals and advance environmental justice in the State. RFEI responses will be used to support the design of financial products and structures for the NJGF. 

Responses to the RFEI must be sent via email to NJGFrfei@njeda.gov with the subject line NJGF RFEI Response – [Primary Applicant Name]. Please note that an RFEI response 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.

WHO:              Potential Respondents to the RFEI may include but are not limited to: 

• Property owners 
• Real estate developers 
• Renewable energy developers & operators  
• Financial institutions  
• Corporations 
• Non-profit organizations 
• Venture and private equity groups
• Community-based organizations, including those representing Environmental Justice Communities  
• Other private entities 

The NJEDA asks that Respondents submit proposals that at a minimum (1) summarize the Respondent’s organizational profile (e.g., background, history, and clean energy involvement), (2) provide brief descriptions of the potential site, project, or asset, (3) specify general capital requirements and desired form of financial support, and (4) discuss barriers to obtain capital.

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.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.