A measure sponsored by Assemblyman Andrew Zwicker (D-Hunterdon, Mercer, Middlesex and Somerset) to establish the “Energy Infrastructure Public-Private Partnership Act” cleared the Assembly Appropriations Committee on Thursday.
The bill (A-4535) would allow private entities to propose energy-related projects to government entities, at government facilities, as part of a public-private partnership. The measure would create an Energy Public-Private Partnership Unit, known as the Energy P3 Unit, within the New Jersey Economic Development Authority (EDA). The unit would be responsible for formulating and executing comprehensive, statewide policy for public-private partnership agreements.
Assemblyman Zwicker issued the following statement:
“The benefit of this bill is that it will allow government entities to leverage the expertise and financial resources of the private sector to develop a number of energy-related projects. The Energy P3 Unit would be fully engaged in this process by evaluating the private entity’s qualifications, financial strength, adequacy and other pertinent parameters deemed necessary by the unit.
“With collaborations being a key component of sound energy infrastructures, this legislation will help government entities partner with the private sector to develop crucial state-of-the art, energy-related projects that can help improve the reliability, efficiency and lower the cost of energy services provided to government facilities.”
The bill goes to the Speaker for further review.