Background

Welsh Education Partnership (WEPCo) is a platform to efficiently plan, design, procure, build, finance and maintain schools and other community-based facilities in Wales. It will allow local authorities (the Participants) to develop and deliver schools projects through the Mutual Investment Model schemes (MIM). MIM is a Welsh variation of Private Finance Initiatives, with a particular focus on community benefits.
Following a tender process:
• Meridiam has been selected to setup this WEPCo jointly with the Welsh
Government (Development Bank of Wales)
• Meridiam has secured the right to invest in all MIM projects being developed by
WEPCo with an 80% shareholding

In September 2020, WEPCo signed a Strategic Partnering Agreement (SPA) with the Participants, called the 21st Century Schools Welsh Education Partnership. Under this agreement, WEPCo will have a 10-year exclusivity period for delivering MIM projects across Wales, with an optional 5-year extension. Each MIM project is expected to have a 25-year operational term.

The schools developed under the Partnership are part of the Welsh Governments objectives to improve educational attainment in Wales (lower than in other regions of the UK). In addition, the Welsh Government has a policy objective of carbon neutrality by 2050 and we expect that all new buildings delivered by WEPCo will target net zero carbon in construction and operations.

Stage:

Partnership Closed

ESG/SDG Key Facts

SDG Achievements and Roadmaps:

SDG 4 (Quality Education) –

WEPCo contributes to meeting demand for high quality education in Wales.

SDG 7 (Affordable and Clean Energy) –

All schools have been designed and will be built under a Net Zero approach, underlining the Project’s commitment to energy efficiency. Solar energy is particularly promoted and Photovoltaic panels are located on the roof of each school building, offseting 100% of the energy consumption of each site. The unused energy is exported to the national grid.

SDG 8 (Decent Work and Economic Growth) –

WEPCo commits to delivering community benefits for the projects including delivering educational engagements with students, creating job opportunities, and using local SMEs.

SDG 11 (Sustainable Cities and Communities) –

The Project contributes to creating sustainable cities by higher development of green areas as apart of the school planning and design.

SDG 12 (Responsible Consumption and Production) –

The Project develops waste initiatives as a waste reduction program and provide instruction for sorting bins in order to limit its impact.