Scott Lechky has been appointed as the first executive director of the N.J. Green Bank, the N.J. Economic Development Authority will announce today.
The NJGB, which is a wholly owned subsidiary of the EDA, 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. Established in April 2024, the NJGB is a component of the 2019 Energy Master Plan and Governor 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 aims to be well-positioned to attract private capital, including funds from public-private partnerships, as has been the case with other Green Banks in the United States. The NJGB intends to facilitate the development of climate and clean energy capital markets in the state through new forms of financial support, such as warehousing and securitization products, that address underdeveloped or nonexistent capital markets for these investments.
Lechky, who will report to the board of directors, will have overall strategic and operational responsibility for the NJGB’s staff, programs, and mission execution. In addition, Lechky will serve as the public face of the NJGB with key partners and stakeholders.
Importantly, Lechky will provide strategic leadership and guide the organization through its critical start‐up and early growth phase – recruiting a high-performing team with deep investment and clean energy expertise, overseeing the completion of its first investments, and securing additional capital to scale impact across New Jersey.
Lechky said he is eager for the opportunity.
“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,” he said. “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.”
EDA CEO Tim Sullivan applauded the announcement.
“Establishing the New Jersey Green Bank has been a pivotal step in Gov. Murphy’s continued push to meet the ongoing challenges of climate change,” he said. “As the executive director of the New Jersey Green Bank, 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.”
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 successfully placed 38 MW 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. (AIMCo).
Kathleen Coviello, the EDA’s chief economic transformation officer, said the position is needed now more than ever.
“From more violent storms to increased flooding, the effects of climate change have become all too familiar here in New Jersey,” she said. “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 percent clean energy, and strengthen our communities and economy for generations to come.”
