TRENTON, N.J. (December 12, 2024) – The New Jersey Economic Development Authority (NJEDA) has published municipality opt-in documents to participate in the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. The program will allow commercial property owners in Participating Municipalities to access a new form of financing to undertake energy efficiency, water conservation, renewable energy, and resiliency improvements.

WHAT:          The Garden State C-PACE Program allows property owners to repay investments from Qualified Capital Providers into eligible projects through a special assessment to a Participating Municipality, similar to the owner’s real property tax, sewer, or water bill. The Participating Municipality then remits the payment to the initial capital provider. This unique form of financing can result in lower-cost, longer-term financing, making it easier for projects to be cashflow-positive from the outset. Municipalities are required to opt-in prior to any project application.

WHO:             Municipalities interested in participating in the Garden State C-PACE program.

WHEN:          Municipalities are required to first adopt the Opt-In Ordinance prior to submitting an application for participation in the Program to the Authority. Applications will open shortly and will be accepted on a rolling basis. For more information and to view the documents, click here. Interested parties may send questions to gardenstatecpace@njeda.gov.

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.

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TRENTON, N.J. (October 31, 2024) – The New Jersey Economic Development Authority (NJEDA) will open applications for the Offshore Wind Applied Research Administration Grant Challenge on November 4, 2024. The Grant Challenge is a pilot program where the NJEDA will award a single grant of $6.35 million to an Administrator to develop and administer a Sub-Grant Program for offshore wind applied research and innovation open to universities and colleges located in New Jersey.

WHAT: This Grant Challenge is a competitive funding opportunity, where applicants will be asked to submit proposals that outline their plans to develop and manage a Sub-Grant Program, through which at least two solicitations will be administered to provide funding to New Jersey colleges and universities for applied research projects for the offshore wind industry. The Sub-Grant Program will provide grants for research projects that show a connection to potential commercialization or innovation of offshore wind technologies.

WHO: Non-profit entities with direct experience overseeing and administering a minimum of one prior offshore wind research and development solicitation are eligible to apply. New Jersey universities and colleges are not eligible to apply for this grant challenge.

WHEN: Applications for this program will open on Monday, November 4, 2024, and close on Thursday, December 19, 2024. A Q&A will be posted on Tuesday, November 26, 2024.

For more information on the Offshore Wind Applied Research Administration Grant Challenge, click here.

About the NJEDA

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.

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.

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More than 350 attendees gathered in Atlantic City to explore the latest developments in offshore wind and discover new prospects in the growing sector

ATLANTIC CITY, N.J. (October 29, 2024) – As part of the ongoing collaboration between New York and New Jersey, the New Jersey Economic Development Authority (NJEDA) and New York State Energy Research and Development Authority (NYSERDA) co-hosted the “New York & New Jersey Offshore Wind Supplier Forum,” in Atlantic City on Monday. The forum, part of a bi-annual series, connected local businesses with developers and other contracted suppliers to explore opportunities in offshore wind, helping New Jersey and New York businesses to build the knowledge and relationships needed for success in the growing industry.

The event brought together more than 350 registered attendees from the regional offshore wind industry eager to supply products and services for projects along the East Coast.

“Through our partnership with NYSERDA, we were able to provide businesses across the region with critical information and a forum to directly connect with new opportunities in the growing sector,” said NJEDA Chief Executive Officer Tim Sullivan. “Under Governor Phil Murphy’s leadership, we are committed to realizing the promise of a clean energy future, and this Supplier Forum is a testament to our vision of a robust offshore wind economy.”

“Governor Hochul’s firm commitment to advancing offshore wind development while reducing its cost is bolstered by New York and New Jersey’s shared vision for a regional supply chain to support regional and national efforts to deploy this resource at scale,” said NYSERDA President and CEO Doreen M. Harris. “Together, we can leverage the lessons learned from overcoming obstacles and keep driving progress for this powerhouse industry.”

At the event, the states announced the launch of a joint workforce development website, offshorewindtraining.org, which includes occupation descriptions, funding opportunities, and a map of all the offshore wind training locations in both New Jersey and New York.

Attendees networked among developers and suppliers, as well as attended several informative sessions on supply chain development. Notably, the session “New York-New Jersey Partnership Success Story,” offered valuable insight into how New Jersey and New York businesses collaborated with European partners to localize components, creating a major manufacturing success in the rapidly growing US offshore wind industry.

“The Offshore Wind Supplier Forum was a valuable opportunity that we were proud to be a part of,” said Chris Johnston, Vice President of Offshore Wind at Riggs Distler. “Our session highlighted the importance of making connections and developing relationships with other like-mind organizations to support these large-scale construction projects. Our work with Smulders and LJUNGSTROM and other Tier 2 and Tier 3 suppliers was built on the collaborative drive towards a sustainable future as we actively shape the offshore wind landscape.”

Consistent with the commitment to support small businesses, the Forum featured 10 New Jersey and New York companies that made a two-minute pitch each to present their capabilities and highlight the services they can offer for offshore wind projects to an audience of developers and other primary component suppliers.

To stay up to date on additional events in New Jersey, visit: https://www.nj.gov/offshorewind/. To stay up to date on additional events in New York, visit https://www.nyserda.ny.gov/All-Programs/Offshore-Wind/Announcements-and-Events.
 

About the NJEDA

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.

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.

About NYSERDA

NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975. To learn more about NYSERDA’s programs and funding opportunities, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, or Instagram. 

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TRENTON, N.J. (April 15, 2024) – Last week, the New Jersey Economic Development Authority (NJEDA) Board approved the creation of the New Jersey Green Bank(NJGB), which will make investments in the clean energy sector that will help advance the state’s efforts to make an equitable transition to 100 percent clean energy. The NJGB will make investments through debt, credit enhancements, and other financial vehicles to attract private capital to enable the state to reach its climate goals.

The Murphy Administration has taken significant steps to meet the ongoing challenges of climate change and has set several clean energy targets, including 100 percent clean electricity by 2035,11 gigawatts of offshore wind power by 2040, and 50 percent economy-wide greenhouse gas emissions reduction by 2030. The NJGB is a component of the 2019 Energy Master Plan and Governor Murphy’s Executive Order 316 directed the NJEDA to implement programs supporting building electrification through the NJGB.

“From more violent storms to increased flooding, the effects of climate change have become all too familiar here in New Jersey,” said Governor Murphy. “My administration has established aggressive goals to combat climate change and the creation of the New Jersey Green Bank will help us meet those goals by making major investments in the clean energy sector. This approval is a significant step in our fight against climate change, which will help us reach a clean energy future that will protect our environment and bolster our economy for generations to come.”

The NJGB will be dedicated to investing in projects, technologies, and companies that align with the State’s climate goals, including in areas such as zero-emission transportation, building decarbonization and resiliency, and clean energy generation and storage. Examples of projects that the NJGB may invest in include solar power, onshore and offshore wind, all electric heat pumps and geothermal, and battery storage, among others. Investments made by the NJGB must demonstrate benefits for the state; be new rather than seeking refinancing; and lead to reduced greenhouse gas emissions or other co-pollutants.

“Establishing the New Jersey Green Bank is a pivotal step in the State’s continued push to meet the ongoing challenges of climate change,” said NJEDA Chief Executive Officer Tim Sullivan. “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.”

As a subsidiary of the NJEDA focused exclusively on climate investments, the NJGB will be well-positioned to attract private capital, including funds from public-private partnerships, as has been the case with other Green Banks in the region. The NJGB will also look to facilitate the development of climate and clean energy capital markets in the state through forms of financial support, such as warehousing and securitization, that address underdeveloped or nonexistent capital markets for these investments.

In addition to capital allocated to the NJGB in the state’s Fiscal Year 2023 budget, the NJGB’s initial capitalization will include permanent grant capital it receives as a named sub-awardee in the Coalition for Green Capital’s (CGC) application to the Environmental Protection Agency’s (EPA) National Clean Investment Fund competition. Last week, the EPA announced that CGC will be receiving an award of $5 billion through the NCIF competition.

“With the formation of the New Jersey Green Bank, our state will be able to invest in projects that will help transform our communities and bring us closer to our clean energy goals. The Green Bank will address gaps in the market and encourage traditional lenders to make investments in new areas. This is a big win for New Jersey and its environment,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello.

Last year, the NJEDA issued a Request for Expressions of interest (“RFEI”) to identify entities interested in financial support from the NJGB. Additionally, the NJEDA has been engaged with sister agencies to identify investment opportunities.

To ensure all communities benefit from the NJGB, the NJEDA will engage New Jersey’s Environmental Justice Communities (EJCs) to ensure a just transition and to make recommendations and provide feedback on how the NJGB can best advance environmental justice through its investments. The NJGB will also leverage the NJEDA’s existing diversity, equity, and inclusion staff, expertise, and initiatives.

About the NJEDA

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.

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.

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The grant challenge supports the State’s goals to prepare New Jersey residents for jobs in the green economy

TRENTON, N.J. (April 11, 2024) – The New Jersey Economic Development Authority (NJEDA) Board approved the creation of the Green Workforce Training Grant Challenge. The $7 million grant program will prepare New Jersey residents for green economy careers, with a particular focus on advancing diversity, equity, and inclusion and serving overburdened communities.

“Governor Phil Murphy is committed to investing in our clean energy future, and through programs like the Green Workforce Training Grant, the NJEDA is spearheading initiatives that increase access to skills and training, putting New Jerseyans at the forefront of green economy careers,” said NJEDA Chief Executive Officer Tim Sullivan. “Through this important workforce development program, New Jersey is investing in our clean energy future by expanding opportunities and ensuring equitable access to good-paying jobs for all residents, especially those in overburdened communities.”

The Grant Challenge is a competitive funding opportunity, where applicants will be asked to submit proposals that outline their plans to develop and implement workforce supports to bolster the green economy, with a focus on New Jersey’s overburdened communities. Grants from $250,000 up to $1.5 million are available. Awardees may use funds to cover design, planning, capital, and implementation costs to offer training programs in green economy industries.

“The Green Workforce Training Grant Challenge is a unique chance for entities across the State of New Jersey, as it provides funds for them to train residents for jobs in the green economy, while ensuring a diverse workforce,” said Executive Director of the Governor’s Office of Climate Action and the Green Economy and Council on the Green Economy Eric Miller. “This Grant Challenge will provide long-lasting solutions that will protect our environment while creating opportunities for our state’s workforce.”

The Green Workforce Training Grant Challenge was created by the NJEDA, in collaboration with the Governor’s Office of Climate Action and the Green Economy and the Wind Institute for Innovation and Training. The program is funded with $4.35 million through the Council on the Green Economy and $2.65 million from the Wind Institute.

“We are experiencing a clean-energy renaissance, and New Jersey is positioning its residents to succeed in this emerging industry,” said NJEDA Vice President of Offshore Wind Jen Becker. “This Grant Challenge will build our talent pipeline for the growing offshore wind and green economy sectors and will help to ensure equitable access to the industry for diverse workers and overburdened communities.”

The Green Workforce Training Grant Challenge builds upon the Green Jobs Council’s NJ Building our Resilient, Inclusive, and Diverse Green Economy (BRIDGE) Initiative. Last year, a total of $5 million in grants were awarded through the BRIDGE Initiative to support organizations working to create a diverse and inclusive workforce to support the state’s clean energy goals.

Eligible applicants include, but are not limited to, community-based organizations, workforce training organizations, labor unions, technical high schools, county colleges, non-profits, regional workforce development boards, and private-sector companies. Applicants must include at least one Community-Based Organization (CBO) that serves one or more New Jersey overburdened community as part of their application.

Applicants’ proposals must include their plans to implement workforce programs, connect participants with job opportunities in the green economy, develop outreach that targets and supports a diverse and inclusive pool of participants, including those from overburdened communities, and define program evaluation and success metrics.

More information about the Green Workforce Training Grant Challenge, including eligibility requirements and a formal application, will be available on www.njeda.gov by mid-2024.

About the NJEDA

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.

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.

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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.

Authority Can Now Offer Benefits of Low-Cost Federal Funding for Clean Energy Projects

TRENTON, N.J. (January 5, 2024) – The New Jersey Economic Development Authority (NJEDA) today announced that it is an eligible State Energy Financing Institution (“SEFI”), a determination by the U.S. Department of Energy’s Loan Programs Office (“LPO”) which will enable the Authority to unlock low-cost capital available through LPO’s Title 17 Clean Energy Financing Program. The LPO provides direct loan financing and loan guarantees for up to 80 percent of eligible project costs for projects aligning with federal energy priorities.

The Bipartisan Infrastructure Law allows for eligible clean energy projects supported by SEFIs, including those using commercially available technologies like wind and solar, to access LPO financing, subject to LPO’s evaluation of the proposed project. This new determination, bolstered with additional loan authority for Title 17 from the Inflation Reduction Act, opens up billions of federal dollars to projects supported by entities like the NJEDA that qualify as SEFIs.

“As a designated SEFI, the NJEDA now has an additional tool for advancing clean energy projects that will contribute toward a cleaner and healthier environment for New Jerseyans,” said NJEDA Chief Executive Officer Tim Sullivan. “It will also help to advance Governor Phil Murphy’s goal of 100 percent clean energy by 2035 – the most ambitious goal of any state in the nation.”

As an eligible SEFI, the NJEDA can support the work of the New Jersey Green Fund (“NJGF”), a planned initiative that will be housed within the NJEDA to invest in clean energy projects in the State. Recently, the NJEDA released a Request for Expressions of Interest (“RFEI”) for parties seeking capital from the NJEDA through the NJGF, which can be accessed here: https://www.njeda.gov/bidding/#RFEI.

“Governor Murphy’s climate action leadership has laid the foundation for a strong and growing green economy,” said Kate Klinger, Executive Director, Governor’s Office of Climate Action and the Green Economy. “NJEDA’s designation as a SEFI will streamline access to federal dollars to invest in green job growth, seed green technology innovation, and expand access to clean energy produced right here in New Jersey.”

“Access to LPO capital is yet another way the NJEDA can help developers, property owners, community-based organizations, and other stakeholders move their clean energy projects forward,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “Paired with the NJEDA’s planned NJGF, we are poised to support small- and large-scale projects that will add to our clean energy momentum.”

A SEFI is an entity established by a state, Indian Tribal entity, or Alaska Native Corporation to provide financing support or credit enhancements for eligible clean energy projects and to take steps to reduce financial barriers to the deployment of eligible clean energy projects.

Examples of qualifying project participation by a SEFI may include, but are not limited to:  

  • Providing equity/subordinate portion of capital stack   
  • Providing loan loss reserve with respect to junior portion of capital stack ​  
  • Co-lending with LPO
  • Providing financial backstop for specific key project elements that may be subject to regulatory or local market risk​.  

Additional SEFI program details and application requirements are described in the Title 17 Clean Energy Financing Program Guide and on the Title 17 Overview web page.

About the NJEDA

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.

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.
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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  
  • Corporations 
  • 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.

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.

Agreement will enable the Authority to provide nearly $400K to NJIT’s POWERCERTS Program

TRENTON, N.J. (September 12, 2023) – The New Jersey Economic Development Authority (NJEDA) Board today approved a memorandum of understanding (MOU) with the New Jersey Institute of Technology (NJIT) to provide $399,000 in funding to the Professional Offshore Wind Energy Certificates (POWERCERTS) Program. The funding approved in the MOU will establish two graduate certificates in Wind Power System Operation and Maintenance and Wind Power Economics and Management, bolstering offshore wind workforce training opportunities for college students.   

“As offshore wind developments advance along the East Coast, we must guarantee that our workforce is equipped to meet the needs of the industry,” said NJEDA Chief Executive Officer Tim Sullivan. “Today’s MOU with NJIT reflects the NJEDA’s commitment to providing high-quality workforce development programs in offshore wind that ensure opportunities for minority and underserved communities. This partnership helps move us closer to Governor Phil Murphy’s goal of creating 11 GW of offshore wind by 2040.”

NJIT’s POWERCERTS Program will address demands for offshore wind training in New Jersey, collaborating closely with the wind industry and the College’s science and engineering departments to offer a robust curriculum. The two graduate certificates established as part of the program will consist of 12 credits, including three core classes and one elective class. Using funding from today’s MOU, POWERCERTS will offer 24 $3,000 scholarships and 24 $4,000 assistantships primarily for students from minority and underrepresented communities to encourage and support their participation in offshore wind workforce training.   

“We are very excited to be working with the NJEDA to establish the NJIT POWERCERTS graduate-certificates program, which will prepare workers to excel in the rapidly growing offshore wind clean energy sector,” said NJIT President Teik C. Lim. “NJIT makes innovations happen, including in the area of environmental sustainability, and this effort will bolster New Jersey’s strength in the clean energy economy.”

To support offshore wind in New Jersey, the NJEDA is developing the Wind Institute for Innovation and Training to accelerate the development of a robust and diverse offshore wind workforce and champion research and innovation to unlock market potential. Today’s MOU is part of a comprehensive strategy to develop several training programs to bolster New Jersey’s offshore wind workforce for thousands of good-paying offshore wind employment opportunities.

“Effective workforce training programs are necessary to prepare future job seekers with the skills they need to thrive in the offshore wind sector,” said NJEDA’s Vice President for Offshore Wind Jen Becker. “NJIT’s POWERCERTS program will prepare graduates for good-paying job opportunities in offshore wind engineering and management, helping keep the state at the forefront of offshore wind energy development.”

The funding provided in today’s MOU is allocated from the NJEDA’s previous MOU with the New Jersey Board of Public Utilities (NJBPU). Approved in October 2022, the $10 million MOU dedicates funds to support the continued development and execution of offshore wind workforce, education, research, and innovation programs.

About the NJEDA

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.

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.

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Update August 21: Feedback on all C-PACE-related documents released by the NJEDA this year will be accepted through August 25, 2023 at 11:59 p.m.

Commercial Property Assessed Clean Energy Program will support clean energy projects, invest in green economy

TRENTON, N.J. (August 14, 2023) – The New Jersey Economic Development Authority (NJEDA) has released draft supplemental uniform assessment documents for the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program for public review and feedback.

The documents released today complement the draft program guidelines released by the Authority earlier this year. The NJEDA appreciates the market input and feedback received to date from the industry on the program guidelines. Such input is important and valuable in shaping the Garden State C-PACE program. The documents posted are in advance of any updates that will result from the feedback received on the program guidelines. NJEDA will be making updates simultaneously to the guidelines and feedback received from this posting of the C-PACE documents. 

WHAT: The C-PACE Program will provide a new form of financing to New Jersey property owners for renewable energy, energy efficiency, water conservation, and certain types of resiliency-related improvements. The program will enable eligible commercial, industrial, agricultural, and certain multi-family residential real property owners to access financing to undertake these kinds of improvements on their properties and repay the financing through the payment of an additional assessment to their municipality, similar to a property tax, sewer, or water bill.

As part of his administration’s ongoing commitment to address climate change, in August 2021, New Jersey Governor Phil Murphy signed legislation requiring the NJEDA to establish the C-PACE program to facilitate the financing of eligible projects in municipalities that adopt an opt-in ordinance.

WHERE: Draft uniform assessment documents are available here on the right side of the webpage. Feedback can be submitted to Gardenstatecpace@njeda.gov.

WHEN: Feedback on all C-PACE-related documents released by the NJEDA this year will be accepted through August 21, 2023 at 11:59 p.m.

About the NJEDA

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.

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.

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