This contract is valued at more than € 500 million capex and will support economic growth and sustainable recovery. The design and development of the first schools will start this fall and new schools and colleges will be operated during a long-term period of 25 years or more.
It is part of the Welsh Government’s 21st Century Schools and Colleges programme. The programme’s overarching aim is to enhance teaching and learning within a sustainable environment. It advocates a better use of resources to improve the efficiency and cost-effectiveness of the education estate throughout Wales whilst also delivering social benefits to local communities including providing high quality training, skills and employment opportunities.
All the new education facilities will be built with stringent environmental and social standards:
This contract further consolidates the footprint of Meridiam in the education sector. As of today, Meridiam is developing 5 schools and 3 daycare centers for over 4,000 pupils in Espoo, the 2nd largest city in Finland. This project is the first social Public Private Partnership in the country and will contribute to approximately 15% of the education identified needs of the city. The firm also built and manages a 50-year student accommodation project completed in 2016, which includes 3000 students’ rooms on the campus of the University of Hertfordshire (north of London).
This Project illustrates Meridiam commitment to build sustainable social infrastructure, and to directly contribute to the United Nations Sustainable Development Goals and in particular:
Latest updates on the project:
The Rhondda Cynon Taff Borough Council and a Project company formed of 80% Meridiam, 20% Development Bank of Wales (DBW, representing Welsh Government) reached financial close on 1st of December 2022. The CAPEX is approx. £53m for a build time of 2 years. The project is financed through senior debt provided by Norddeutsche Landesbank Girozentrale (Nord/LB) and equity provided by the two shareholders. The construction is done by Morgan Sindall Construction, while facilities management will be provided by Robertson FM.
The project will see the development of 3 new English Medium 3-11 primary schools that will be operated and maintained by the project company for 25 years.
> Pontyclun primary school will provide accommodation for 540 pupils
>Penygawsi Primary School will provide accommodation for 355 pupils
> Lanilltud Faerdref Primary School will provide accommodation for 270 pupils
This second Mutual Investment Model (MIM) education project is built using an innovative Net Zero Carbon in operations design, which will protect the energy consumption of the council. The project will also benefit from enhanced community benefits, including use of long-term unemployed, apprentices and local supply chain, as well as STEM (Science Technology Engineering and Mathematics) engagements.
This is Meridiam’s second MIM project, after the Mynydd Isa Campus (Flintshire) project which was closed in November 2022, and part of a pipeline of a dozen of schools which represent a total capex of approximately £500m, to be developed in the next ten years.
> Learn more from the press release
Meridiam is proud to announce the close of the first Mutual Investment Model (MIM) Welsh school, in Flintshire County, north-east of Wales.
The Mutual Investment Model is an innovative way to invest in public infrastructure developed in Wales. MIM has been designed by the Welsh Government to finance major capital projects due to a scarcity of capital funding (source https://gov.wales/mutual-investment-model-infrastructure-investment).
This first school is part of a major Welsh Education Partnership contract for which Meridiam has been selected – which aims to deliver new schools and colleges across Wales – jointly with Development Bank of Wales (DBW, representing the Welsh Government). This partnership is managed under the framework of the Welsh Government’s MIM 21st Century Schools and Colleges programme, aiming to enhance teaching and learning within a #sustainable environment.
This first new all-through school (primary and secondary school) will serve 1300 learners and will be operated and maintained by the Welsh Education Partnership Company for 25 years. The school is expected to be operational in November 2024.
From an environmental impact perspective, this major education project is built using an innovative Net Zero Carbon in operations design, which will protect the energy consumption of the council.
The project will also benefit from enhanced community benefits, including use of long-term unemployed, apprentices and local supply chain, as well as STEM (Science Technology Engineering and Mathematics) engagements.
The global WEP project is valued at more than € 500 million capex and will support economic growth and sustainable recovery.
> Learn more from the project page
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