Georgetown University announces partnership for comprehensive energy P3 agreement with ENGIE
Clients Georgetown University
Jones Day represented Georgetown University in connection with the negotiation and commercial close of a comprehensive energy P3 agreement with ENGIE. The agreement addresses sustainability and energy conservation at the University’s campuses through ENGIE's management of the University's utility system. During the term of the agreement, ENGIE will assume responsibility for the enhancement, operation and upkeep of the electrical, heating and cooling and domestic water systems. Georgetown will retain ownership of its facilities and control over decisions related to capital improvements. Through capital improvement and energy conservation programs, the partnership will generate operational efficiencies, position Georgetown to reduce its energy use intensity by at least 35 percent by 2030 and create additional resources that will enable the University to deepen its focus on fostering a leading academic community in a sustainable way. Financial close is expected to occur in July of 2021.