From the new funding, $145 million will be issued as loans, while $59.2 million will be allocated through a combination of grants and loans with principal forgiveness.
These projects will focus on better water distribution and storage, improving safety measures, boosting hydropower generation and providing water treatment solutions.
The report highlights several developments driving anticipated growth in peak demand over the next 10 years, such as large, high-energy-use commercial customers like data centers and chip manufacturing facilities.
This funding will back the New Jersey Broadband Infrastructure Deployment Equity pilot program, which is aimed at providing high-speed internet access to underserved and unconnected areas.
The shift to zero-emission technology follows the 2018 Innovative Clean Transit Rule, which requires all public transit agencies in the state to convert their bus fleets to zero-emission vehicles by 2040
This program will modernize the application process for interconnection, helping to drastically cut down the time needed to review, approve and connect new energy projects across the nation.