Jones Day advised University of Iowa Utility System on award-winning deal
The University of Iowa's public-private partnership with a consortium of ENGIE and Meridiam, on which Jones Day provided legal advice to The University of Iowa, was named Energy Deal of the Year by Infrastructure Investor and Best Utilities Project by P3 Bulletin. The overall consideration for the transaction is approximately $1.165 billion and, according to The University of Iowa's website "will allow UI to invest $15 million per fiscal year via grants dedicated to supporting its strategic plan and core missions of teaching, research, and scholarship."
Infrastructure Investor selected the deal from hundreds of submissions in more than 60 categories. The P3 Bulletin judging panel, representing more than 80 industry professionals in both the public and private sectors, received a record number of entries for 18 categories.
Jones Day advised The University of Iowa in connection with a concession for its energy and water systems, in a public-private partnership (P3) with a consortium of ENGIE and Meridiam. Under this agreement, ENGIE will operate, maintain, optimize, and improve the on-campus utility systems for the University. The scope includes providing heating, cooling, and electricity to the campuses through a dedicated network while also managing high quality and sanitary water and storm sewer services. One of the key features of this agreement is to help the University transition to coal-free energy production on campus by January 1, 2025, if not sooner.
The Jones Day team advising The University of Iowa was led by Brian Sedlak, co-leader of Jones Day's Real Estate Practice, and included Michael Austin, Jordan Wohlner, James Kinnebrew, and Serena Rwejuna.