The Ohio State University forms comprehensive first of its kind energy management program worth approximately $1.2 billion
Clients Ohio State University, The
Jones Day advised The Ohio State University in connection with a comprehensive energy management program for the University to be provided by Ohio State Energy Partners, a consortium comprised of ENGIE North America Inc. and Axium Infrastructure US Inc. The overall consideration for the transaction is approximately $1.2 billion.
The deal is a first of its kind public-private partnership given its scope, depth and subject matter. The 50-year lease and concession agreement encompasses leasing the University's existing utility system (including electricity, steam and condensate, chilled water, natural gas and geothermal power) to a third-party concessionaire, implementation of energy conservation measures by the concessionaire to meet certain energy savings goals, assistance with the procurement of energy supplies for the University, and development of an academic collaboration relationship with the University (including the construction, in collaboration with the University, of a visionary project expected to cost over $40 million).
In March 2018, The Ohio State University’s energy management program was recognized by IJGlobal at the IJGlobal Awards 2017 ceremony as the winner of the "North American Deal of the Year" award. IJGlobal is the leading online database of infrastructure and project finance transactions and assets.