Background

The Project consists of the operation, maintenance and improvement of the University’s utility systems, and related distribution systems serving over 90 buildings on the Main and Oakdale campuses.
The University of Iowa is the largest university in the State, (1) with over 31,000 students, and 1,200 Professors and Associate Professors.(2) It spans 1,700 acres and is home to over 90 major buildings. The University has one of the nation’s largest teaching hospitals and the State of Iowa’s only medical tertiary/quaternary-level center. It has more than 16,500 employees, students, and volunteers. It admits around 34,000 in-patients annually and more than 50,000 emergency department visits took place in 2024.(3) The Project targeted to achieve a 100% coal-free campus before 2025, installing energy optimization smart systems and reducing the carbon footprint with multiple initiatives such as local energy pellet production, boiler conversion to Combined Heat and Power (“CHP”), and diverse renewable energy options.

94 full-time employees and 33 part-time student employees transitioned to the Concessionaire’s Operator at Financial Close.

Stage:

In Operation

ESG/SDG Key Facts

The Project Company, coordinating with Meridiam, continues to promote projects for increasing reliability of the steam and chilled water systems to as well as evaluating energy conservation initiatives and renewable energy projects.
The Project obtained ISO 9001 for Quality Management Systems, ISO 14001 for Environmental Management Systems, ISO 18001 for Health and Safety Management Systems and ISO 50001 for Energy Management Systems.

SDG Achievements and Roadmap

SDG 7 (Affordable and Clean Energy) –

In 2024, the University of Iowa ranked No. 2 in the Top 30 College & University list of the largest green power users.(a) The University uses more than 303 million kWh of green power annually,(b) which translates to 84% of total electricity needs.

SDG 8 (Decent Work and Economic Growth) –
The Asset continues to promote health and safety along the value chain through the establishment of a policy, associated monitoring systems, and mitigation measures.

SDG 9 (Industry, Innovation and Infrastructure) –
The project company undertook a Scope 1 and 2 carbon footprint analysis for CY 2023, reporting a total of 180,054 tCO2 EQ. Additionally, the analysis includes biogenic direct emissions, equivalent to 13,898 metric tons.

SDG 13 (Climate Action) –

The utility system is now capable of being operated without coal, further reducing GHG emissions and mitigating its impact on climate change. The Project Company continues to promote additional projects that will improve campus decarbonization, such as campus wide site lighting LED (light-emitting diode) conversion, steam to electric chiller replacement, controls and metering upgrades, hot water districts, etc.

(1) College Tuition Compare, Largest Iowa Colleges With Most Students;
https://www.collegetuitioncompare.com/statistics/iowa/the-largest-colleges/ 
(2) https://provost.uiowa.edu/sites/provost.uiowa.edu/files/2025-03/Digest_2024-25.pdf 
(3) https://uihc.org/basic-facts-about-ui-hospitals-clinics

(a) https://www.epa.gov/greenpower/green-power-partnership-top-30-college-university
(b) As reported by portfolio company as part of annual SIMPL survey

Learn more about the project:

University of Iowa Utility System, USA

Meridiam successfully achieves financial close of the 50-year concession contract with the University of Iowa’s utility system

Meridiam and ENGIE awarded 50-year Utility Management Concession with the University of Iowa toward a zero-carbon transition