ENGIE, Meridiam to Help U of Iowa Meet Sustainability Goals

   By Stephen Nakrosis

The University of Iowa has awarded a 50-year concession to Engie North America Inc. and Meridiam that will see the companies assist the university in meeting water, energy and sustainability goals.

The work will focus on two campuses in Iowa City, Iowa, that span over 1,700 acres, the companies said.

The companies said they "will be 50/50 partners in an organization that is locally resourced and will concretely contribute to the United Nations Sustainable Development Goals and allow the University to meet its energy transition objectives."

Under the terms of the deal, which is valued at over $1 billion, Engie will work to improve and maintain the campuses' heating, cooling and electricity systems, as well as water and sewer services. The companies will help the university reach its goal of coal-free energy production on campus by 2025, they said.

Meridiam, an independent investment firm founded in 2005, said it specializes in developing, financing and managing long-term and sustainable public infrastructure projects.

Engie North America said it offers a range of services in the U.S. and Canada to help customers decarbonize, decentralize, and digitalize their operations. France's Engie SA is the parent company of Engie North America.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 10, 2019 12:36 ET (17:36 GMT)

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