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
- 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.
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.