Hannon Armstrong Sustainable Infrastructure Capital has entered into a utility public-private partnership (P3) between the University of Iowa, Engie and Meridiam, with a $115 million preferred equity investment.
According to Hannon Armstrong, the partnership, which has been dubbed the “Hawkeye Energy Collaborative,” was awarded a $1 billion 50-year utility management concession contract in December 2019 and reached financial close on March 10.
The partnership will operate, maintain and upgrade the university’s energy and water utilities for two campuses spanning 1,700 acres. Together, these campuses form one of the largest university footprints in the United States.
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 Engi
