Today, the New Jersey Economic Development Authority (NJEDA) announced that Scott Lechky has been appointed as the first Executive Director of the New Jersey Green Bank (NJGB). The NJGB is a subsidiary of the NJEDA and is designed to use climate-focused investments and financial support to attract private capital. Its mission is to accelerate clean energy adoption, advance state climate goals, and lower energy costs for utility ratepayers in New Jersey.
“Establishing the New Jersey Green Bank has been a pivotal step in Governor Murphy’s continued push to meet the ongoing challenges of climate change,” said NJEDA Chief Executive Officer Tim Sullivan. “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.”
Scott Lechky brings more than 20 years of experience in areas such as energy infrastructure investing, investment banking, project development, and finance. He previously founded Andelis Infrastructure Partners, which advised clients on early-stage opportunities related to energy transition. Before that role, he served as Chief Financial Officer at OYA Solar—a company that launched 38 megawatts of solar projects in New York—and held positions with Credit Suisse, Bank of America Merrill Lynch, Barclays, Antarctica Capital, and Alberta Investment Management Corp.
“From more violent storms to increased flooding, the effects of climate change have become all too familiar here in New Jersey,” said Chief Economic Transformation Officer Kathleen Coviello. “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.”
“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 holds an MBA from Northwestern University’s Kellogg School of Management with concentrations in Accounting and Analytical Finance. He also has a Bachelor of Commerce degree from University of Alberta and is a Chartered Financial Analyst charter holder.
In his new position reporting directly to NJGB’s Board of Directors, Lechky will be responsible for overall strategy as well as operational management of staff and programs. He will guide NJGB through its start-up phase by building an expert team focused on investment and clean energy expertise. His duties include overseeing initial investments while securing further capital needed for expansion across New Jersey.
The NJGB was established in April 2024 as part of initiatives outlined by Governor Murphy’s Executive Order 316—based on recommendations from both this order and components within New Jersey’s 2019 Energy Master Plan—which tasked NJEDA with implementing programs supporting building electrification through this new bank. As a dedicated arm within NJEDA focused solely on climate investments—similar models have attracted private funds elsewhere—the bank aims not only at attracting public-private partnership funds but also intends on developing local markets for climate-related financing using tools like warehousing or securitization products where such markets remain limited or absent.
