# University of Iowa awards 50-year utility lease to ENGIE and Meridiam

The University of Iowa's board awarded a consortium of French companies, jointly owned by ENGIE and Meridiam, a 50-year contract to operate its utility system in exchange for a $1.165 billion upfront payment. The decision was made on December 10, 2019.

- Type: Contract
- Announced: 2019-12-10
- Where: Iowa City, Iowa, United States
- Value: $1.17B
- Status: completed
- Products: utility system operation
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Engie](https://endata.com/companies/999.md)
- [Engie](https://endata.com/companies/999.md) (partner)
- [University of Iowa](https://endata.com/companies/25234.md) (customer)
- [Meridiam](https://endata.com/companies/43840.md) (partner)

## Sources

- [apnews.com](https://apnews.com/general-news-7393a2dd5c69f590a8e7db3d19f1e240), 2019-12-10: "The Iowa Board of Regents selected a venture jointly owned by global energy company ENGIE and asset manager Meridiam for the school’s utility system lease."
- [en.newsroom.engie.com](https://en.newsroom.engie.com/news/engie-and-meridiam-awarded-50-year-utility-management-concession-with-the-university-of-iowa-toward-a-zero-carbon-transition-55e9-314df.html), 2019-12-18: "The University of Iowa is pleased to partner with ENGIE and Meridiam over the next 50 years in order to deliver on the UI’s strategic plan, which is focused on the success of students; research and discovery; diversity, equity, and inclusion; and engagement."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.