MAYS LANDING, N.J.--()--Energenic is proud to announce that it has completed the financing of the new Central Energy Center at Montclair State University (MSU). This new facility, which Energenic will design, build, own and operate, will dramatically improve the University's existing energy infrastructure and create hundreds of jobs without requiring the University to fund construction or issue debt.
“This financing illustrates once again why Energenic is the leader in developing clean energy projects”
Energy Facility Revenue Bonds were issued through the New Jersey EDA by Energenic to fund the project. The $78.3 million dollar offering achieved an investment grade rating of Baa3 from Moody’s. This financing has no impact on MSU’s balance sheet or credit ratings.
“This financing illustrates once again why Energenic is the leader in developing clean energy projects,” said Frank DiCola, CEO of Energenic. “Utilizing a financing structure like this allows a college or university to focus resources on supporting the institution’s core mission, rather than on escalating energy prices and replacing aging infrastructure.”
Energenic is a joint business venture between long-term business partners Marina Energy LLC, a subsidiary of South Jersey Industries (NYSE: SJI), and DCO Energy LLC. Energenic specializes in the comprehensive design, development, construction and long term operation of large-scale energy projects and has offices in Nevada and New Jersey. For more information, visit energenic-us.com, sjindustries.com and dcoenergy.com.