In earlier blog posts from April 26, 2023 and August 23, 2022, we have provided information regarding the Garden State Commercial Property Assessed Clean Energy (C-PACE) program, established by the New Jersey Economic Development Authority (EDA) as a mechanism to finance commercial renewable energy projects, energy efficiency initiatives, electric vehicle charging stations, microgrids, power purchase agreements, and water efficiency and other authorized improvement projects.

The C-PACE program is expected to be a popular option for hospitals and other healthcare sector entities looking to rehabilitate facilities or adopt clean energy initiatives while seeking to avoid the upfront capital expenditures typically required for such projects.

This just-published Client Alert by Greenbaum attorney Maura E. Blau provides an update on the process by which the program will become operational, including the EDA’s August 21, 2023, deadline for accepting public comments.