The basics:

• Lechky appointed first executive director of New Jersey Green Bank
• NJGB to attract private investment for clean energy, climate projects
• Brings 20+ years of energy infrastructure, finance & project experience
• NJGB supports NJ’s energy transition, sustainable growth & decarbonization

The New Jersey Economic Development Authority announced Oct. 21 the appointment of Scott Lechky as the first executive director of the New Jersey Green Bank.

The NJEDA established the NJGB as a wholly owned subsidiary in April 2024. The Green Bank will leverage public funds to attract private capital for clean energy and climate-related projects. Its mission is to advance the state’s energy transition goals, lower utility costs and drive sustainable economic growth.

“Establishing the New Jersey Green Bank has been a pivotal step in Gov. [Phil] Murphy’s continued push to meet the ongoing challenges of climate change,” said NJEDA Chief Executive Officer Tim Sullivan. “As Executive Director, Scott Lechky will work to inject capital into the state’s clean energy economy and support green businesses and good-paying jobs in the energy sector.

“Additionally, the investments made by the NJGB will pave the way for a cleaner and healthier environment for our residents and future generations.”

CV

Lechky brings more than two decades of experience in energy infrastructure investing, investment banking, energy project development, and project and corporate finance.

Most recently, he was founder and managing partner of Andelis Infrastructure Partners. The broker-dealer and investment management firm advises clients and investing in early-stage opportunities in the energy transition sector. He also previously served as CFO of OYA Solar. The community solar developer successfully brought 38 megawatts of solar projects online in New York.

Lechky will oversee the Green Bank’s strategic and operational direction, recruit a high-performing investment team and guide the organization through its early growth phase. His responsibilities include completing the NJGB’s first investments as well as securing additional capital to expand its statewide impact.

“As the energy industry faces unprecedented demand growth in the coming years, I am excited to lead the New Jersey Green Bank in collaboration with key industry stakeholders that seek to diversify and decarbonize our energy sources,” said Lechky. “I look forward to establishing partnerships with private capital in support of technological innovation and the clean energy entrepreneurs that are delivering a lasting and positive impact on our environment, the economy, and New Jersey communities.”

Master plan

The Green Bank’s creation stems from Murphy’s 2019 Energy Master Plan and Executive Order No. 316. The EO tasked the NJEDA with launching programs to support building electrification and clean energy financing.

The NJGB is modeled on green banks in other states. It will focus on mobilizing private investment through financial tools, such as warehousing and securitization products that address gaps in current climate capital markets.

NJEDA Chief Economic Transformation Officer Kathleen Coviello applauded Lechky’s hiring.

“We are excited for Scott Lechky to join the New Jersey Green Bank, which is poised to support the Murphy administration’s mission to combat climate change, transition to 100% clean energy, and strengthen our communities and economy for generations to come,” said Coviello.