The University of Iowa (UI) will receive USD 1.165bn for the concession for its energy and water systems, in a public-private partnership (P3) with a consortium of Engie and Meridiam.
The Iowa Board of Regents approved the deal at its 10 December meeting.
The deal is structurally much like one The Ohio State University (OSU) signed in 2017 with a team comprising Engie and Axium; even the value of the upfront payout of USD 1.165bn is identical.
One significant difference is that the agreement with UI will include operation and maintenance of the campus’s water systems, including sanitary sewer, stormwater sewer, and domestic water. Like the OSU deal, Engie will operate and maintain the campus utility system, including electricity, steam and condensate, domestic water, chilled water and compressed air.