In an effort to advance the state’s efforts to make an equitable transition to 100% clean energy, the board of the New Jersey Economic Development Authority approved the creation of the New Jersey Green Bank.
The NJGB will make investments in the clean energy sector through debt, credit enhancements and other financial vehicles to attract private capital to enable the state to reach its climate goals.
“Establishing the New Jersey Green Bank is a pivotal step in the state’s continued push to meet the ongoing challenges of climate change,” EDA CEO Tim Sullivan said. “The NJGB will inject capital into New Jersey’s clean energy economy and support green businesses and good-paying jobs in the field. Additionally, the investments made by the NJGB will pave the way for a cleaner and healthier environment for our residents and future generations.”