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

Background

The Project consists of the operation, maintenance and improvement of the University’s Utility Systems, and related distribution systems of the campus, over a period of 33 years. The University of Iowa is the second largest university in the State (1), with over 35,000 students and 1,200 Professors and Associate Professors. 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 13,000 employees, students, and volunteers. It annually admits about 37,000 inpatients and more than 58,000 emergency department visits took place in 2018.

The Project targets to achieve 100% coal-free campus before 2025, installing energy optimization smart systems and reducing carbon footprint with multiple initiatives such as local energy pellet production, boiler conversion to CHP, diverse renewable energy options.

On March 2021, Meridiam issued an SDG Impact bond, directly linked to its ambitious objectives to reduce, by more than 30%, the utility system energy consumption. This financial instrument not only benefits from Green Bond certification but is also directly related to its tangible and positive contribution to SDG impact. In practice, the interest rate of the bond will include financial penalties throughout the project life if the energy performance objectives are not continuously met.

The project team continues to evaluate energy conservation initiatives and renewable energy projects.

Stage:

In Operation

Learn more about the project:

University of Iowa USA utility management concession

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