Engie North America and Meridiam, an asset manager based in Paris, have reached financial close on a $1 billion public-private partnership (P3) project for the University of Iowa, according to InfraPPP.
Initially awarded in December 2019, the 50-year concession contract aims to address the University of Iowa’s energy, water and sustainability goals for two campuses spanning 1,700 acres in Iowa City, Iowa. Together, these campuses form one of the largest university footprints in the United States, notes Engie.
Meridiam and Engie will be 50-50 partners in a locally resourced organization that will contribute to the United Nations Sustainable Development Goals, according to a December statement by Engie that announced the concession.
Under the agreement, Engie will operate, maintain, optimize and improve the on-campus utility systems for the university. The scope of work includes providing heating, cooling and electricity to the campuses, while managing
