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Retail Supplier Affiliate, Partner Awarded $1 Billion Utility Management Concession For Large Uni
December 10,2019 Meridiam and ENGIE North America have been awarded a 50-year concession valued at more than $1 billion USD to address the University of Iowa’s energy, water, and sustainability goals for two campuses spanning 1,700 acres in Iowa City, Iowa. Meridiam and ENGIE will be 50/50 partners in an organization that, "combines the world’s leading energy services provider, ENGIE, with one of the leading long-term sustainable energy transition infrastructure investors, Meridiam," the companies said Under this agreement, ENGIE will operate, maintain, optimize, and improve the on-campus utility systems for the University. The scope includes providing heating, cooling, and electricity to the campuses through a dedicated network while also managing sanitary water and storm sewer services. ENGIE and Meridiam will work with the University to assure, among other things, multiple services and solutions involving reductions in energy usage as well as generation sources such as renewable energy, microgrids, energy storage and other innovative technologies preparing the campus for a resilient and sustainable future "After winning a similar 50-year concession with The Ohio State University and acquisition of critical infrastructure to serve six Harvard-affiliated hospitals in Longwood Medical Area in Boston under a 34-year agreement, the work to be done with the University of Iowa reinforces ENGIE’s commitment to serving the university and healthcare sectors in North America," ENGIE said Meridiam is a developer, investor, and asset manager specializing in greenfield infrastructure with a core focus on sustainability and impact.
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