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Press Release
April 15, 2020
2 minute read

NJEDA Extends Deadline for Responses to RFI Seeking Input on Potential Green Fund to Support Clean Energy Tech


TRENTON, N.J. (April 15, 2020) – In response to the ongoing COVID-19 pandemic, the New Jersey Economic Development Authority (NJEDA) has extended the deadline to submit responses to its request for information (RFI) seeking input on the need for a “Green Fund” to support investments in clean energy technology. Responses will now be accepted through May 29, 2020. The RFI is available online at https://www.njeda.com/Bidding-Opportunities-General/Economic-Transformation-RFIs.

The RFI, released on March 10, seeks input from all individuals and organizations that have an interest in how a Green Fund may be established and operate in the State, including commercial banks, specialty lenders, businesses developing clean energy initiatives in New Jersey, current and potential suppliers within the clean energy supply chain, and organizations with specialized knowledge and expertise related to the creation and operation of green banks, green funds, and similar financing mechanisms. The questions focus on standing up the proposed Green Fund as well as how to best manage it over the long term to ensure the greatest benefit for New Jersey.

“Increasing private investment in the deployment of clean energy is vital to achieving Governor Murphy’s goal of
setting New Jersey on a path to 100% clean energy by 2050,” said NJEDA Chief Executive Officer Tim Sullivan. “We want to be sure that anyone who wants to provide insight in response to this RFI is not hindered in doing so due to the COVID-19 outbreak.”

Governor Murphy’s New Jersey Energy Master Plan sets forth a robust, actionable set of seven strategies and recommendations to enable the State to achieve its ambitious commitments to expanding clean energy and reducing greenhouse gas emissions between now and 2050. The plan recognizes that meeting these commitments will require a significant amount of private capital investment—and that New Jersey’s government can and should play a critical role in mobilizing this capital by expanding opportunities for innovative and low-cost financing and leveraging public dollars to grow private sector investment

All RFI responses must be submitted in writing no later than 11:59pm ET, on May 29, 2020 via e-mail to: RFI-PotentialGreenFund@njeda.com . The subject line of the e-mail should state: “RFI Response-2020-RFI-OET-CE- 102-Potential Green Fund.” 

To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan
 
About the New Jersey Economic Development Authority
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.
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitterand LinkedIn.
 

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