The proposed bill establishes the "Energy Infrastructure Public-Private Partnerships Program" (Energy P3 Program) in New Jersey, designed to enhance the state's energy infrastructure through public-private partnerships. It aims to address the need for reliable and resilient energy resources, particularly in response to aging systems and severe weather events. The bill outlines public policy goals that include fostering energy-related projects with minimal capital investment from government entities while leveraging private sector expertise and funding. It supports the state's Energy Master Plan by promoting renewable energy initiatives, improving energy efficiency, and reducing greenhouse gas emissions. The bill also allows eligible entities to enter into public-private partnership agreements for energy projects, specifying a structured approval process through the New Jersey Infrastructure Bank.

Additionally, the bill amends existing legislation to expand the financial capabilities of the New Jersey Infrastructure Bank, allowing it to provide loans and assistance for energy-related projects to public-private partnership eligible entities. It introduces new provisions for the establishment of the Energy Infrastructure Financing Program and the Energy Loan Origination Fee Fund, which will support short-term loans for energy projects and cover administrative expenses. The bill mandates that all funds related to energy projects be kept separate from other trust funds, ensuring dedicated financial support for energy initiatives. Furthermore, it includes provisions for worker protections, such as prevailing wage requirements, and establishes a review process for project proposals, ensuring alignment with state energy goals and compliance with competitive contracting procedures.

Statutes affected:
Introduced: 58:11B-2, 58:11B-3, 58:11B-4, 58:11B-5, 58:11B-6, 58:11B-7, 58:11B-9, 58:11B-13, 58:11B-14, 58:11B-15, 58:11B-17, 58:11B-18, 58:11B-19, 58:11B-23, 58:11B-25, 58:11B-27, 40A:11-15