The New Jersey Economic Development Authority announced Oct. 21 Scott Lechky has been appointed as the first executive director of the New Jersey Green Bank (NJGB).
The NJGB, a wholly owned subsidiary of the NJEDA, aims to use climate-related investments and financial assistance to mobilize private capital to accelerate the adoption of clean energy, advance New Jersey’s climate goals, and reduce the cost of energy for all utility ratepayers in New Jersey.
“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,” said NJEDA Chief Executive Officer Tim Sullivan. “Additionally, the investments made by the NJGB will pave the way for a cleaner and healthier environment for our residents and future generations.”
Lechky has more than two decades of experience in energy and energy infrastructure investing, investment banking, energy project development, and corporate and project finance. He was the founder and managing partner of Andelis Infrastructure Partners, a broker dealer and investment management firm focused on advising clients and investing in early-stage opportunities in the energy transition sector.
Prior to launching Andelis, Lechky was the chief financial officer of OYA Solar, a community solar developer that placed 38 megawatts of solar projects into operations in New York.
Lechky previously held investment banking roles focused on power, utilities, and infrastructure with Credit Suisse, Bank of America Merrill Lynch, and Barclays, and energy infrastructure investment management roles at Antarctica Capital and Alberta Investment Management Corp.
“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 New Jersey Green Bank Executive Director Scott Lechky.
“I am looking 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.”
Lechky will report to the board of directors and have overall strategic and operational responsibility for the NJGB’s staff, programs, and mission execution.
Established in April 2024, the NJGB is a component of the 2019 Energy Master Plan and Gov. Phil Murphy’s Executive Order 316, which directed the NJEDA to implement programs supporting building electrification through the NJGB. As a subsidiary of the NJEDA focused exclusively on climate investments, the NJGB tries to attract private capital, including funds from public-private partnerships, as has been the case with other Green Banks in the United States.
