New Jersey Symposium Convenes Chief Experts to Explore Innovations In Financing Resilient Energy Systems

(NEWARK, November 12, 2014) Governor Christie’s Administration, Environmental Defense Fund (EDF), and the New Jersey Institute of Technology today host the first-of-its-kind Resilience Finance Symposium, convening leaders in the energy, finance, and public policy fields to discuss innovative ways to finance resilient energy systems that can help protect vulnerable regions from the loss of electric power due to devastating extreme weather events like Superstorm Sandy. The symposium will focus on financing solutions that increase the resilience of energy infrastructure such as microgrids, energy storage, and on-site, distributed generation.

“Rebuilding stronger and more resiliently has been a hallmark of the Christie Administration’s strategy for recovering from Superstorm Sandy,” said Terrence Brody, Executive Director of the Governor’s Office of Recovery and Rebuilding. “Maintaining power at critical facilities during major storms is crucial to ensure the health and safety of New Jersey residents during future storms. The Administration created the New Jersey Energy Resilience Bank to help fund innovative energy technologies that will remain operational during blackouts, and we continue to seek partnerships that will enhance New Jersey’s defenses against powerful storms such as Sandy.”

More than 150 attendees from the public, private, and non-profit sectors will hear keynote remarks from Ken Alston, Senior Advisor for Finance in the Office of the Secretary at the U.S. Department of Energy.

“Since Superstorm Sandy, New Jersey has been working hard to increase the resilience of the state’s energy infrastructure with the expanded use of microgrids and energy storage. As today’s gathering of thought leaders from the public and private sector shows, momentum is building for a smarter, more efficient energy infrastructure that can hold up when New Jerseyans need it most,” said Mary Barber, EDF Director, New Jersey Clean Energy. “We look forward to continue working closely with the Governor’s office on resilient energy solutions.”

Mr. Brody and Mitch Carpen, Executive Director of the New Jersey Energy Resilience Bank, will discuss the considerable progress New Jersey has made in making its energy infrastructure more resilient in the two years since Superstorm Sandy. Alfred Griffin, President, NY Green Bank, and Bryan Garcia, President and Chief Executive Officer, Connecticut Green Bank, will discuss the key role private sector capital can play in financing clean energy and resiliency solutions.

“The Center for Resilient Design at New Jersey Institute of Technology (NJIT) is thrilled to host the Resilience Finance Symposium. As we continue to rebuild and recover two years into the aftermath of Superstorm Sandy, our College of Architecture and Design students and faculty are dedicated to creating and promoting resilient designs and infrastructure that can withstand both natural and man-made disasters,” said Thomas G. Dallessio, director of NJIT’s Center for Resilient Design. “The New Jersey Energy Resilience Bank is critically needed to provide the financing necessary to design and build the next generation of resilient, energy-efficient infrastructure.”