A consortium fronted by Meridiam and Engie has emerged as the frontrunner for the University of Iowa Utility System P3, said four sources familiar with the situation.
Barclays is advising the Meridiam/Engie team on the process.
“The University of Iowa is still in the request for proposal process in its exploration of a potential public-private partnership with its utility system,” said a spokesperson for the university, who declined further comment on the bidding process.
Final bids were submitted by November 5 and the school’s board of regents had been expected to meet next month to pick the winning bid.
Meridiam and Engie submitted the best offer on the table and other consortia dropped out as a result, said those same sources.