The University of Iowa officially transferred management of its utility system to ENGIE North America at 12:01 p.m. on March 11, 2020.
The 50-year partnership with ENGIE and Meridiam will allow the UI to invest $15 million per fiscal year via grants dedicated to supporting its strategic plan and core missions of teaching, research, and scholarship. The UI is one of the first universities in the country to engage in a utility public-private partnership (P3) for a utility system.
Under the agreement, ENGIE and Meridiam are working with the university to ensure:
- That the UI meets its goal of being coal-free by Jan. 1, 2025, if not sooner.
- That sources of renewable fuels and incorporating sustainable, lower-cost fuel options into the existing utility systems will be explored.
- A seamless transition to welcome all current UI utility system employees.
- Students, faculty, and staff will have opportunities to benefit from experiential learning and innovation via internships, projects, and research opportunities in energy and other areas.
“We’re pleased to have found an innovative way to bridge a meaningful gap in available resources in order to help continue delivering on our mission of education and research excellence,” says UI President J. Bruce Harreld. “We’re looking forward to our partnership with ENGIE and Meridiam and appreciate the involvement of university shared governance members, academic leadership, and the campus community during this whole process.”
Visit uiowa.edu/p3 for more information.