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ENGIE North America and Meridiam have been awarded a 50-year concession valued at over $1 billion to manage the University of Iowa's energy, water, and sustainability systems across two campuses in Iowa City, Iowa.
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.
Meridiam and ENGIE have been awarded a 50-year Utility Management Concession with the University of Iowa to manage and improve the campus utility systems, aiming for coal-free energy by 2025 and a zero-carbon transition.