A new collaboration formed with French multinational electric utility ENGIE is expected to help the University of Georgetown in the US state of Washington to optimise its energy management.
ENGIE will provide the University with energy management solutions, a development that will help the tertiary institution to address sustainability and to improve its energy conservation.
ENGIE will manage the university’s utility system at the institution’s main campus in the Georgetown neighbourhood in Washington DC.
The campus, which covers more than 100 acres and houses approximately 60 main buildings and has 19,000 students, and 6,200 employees, will be upgraded with electrical and energy-efficient heating and cooling and water systems.
ENGIE will generate operational efficiencies for the campus to reduce its energy use intensity by at least 35% by 2030.
Barclays has served as an exclusive financial advisor and Jones Day served as an exclusive legal advisor to Georgetown University for the transaction.
Geoff Chatas, COO at Georgetown University, said: “After committing to divest from fossil fuels and launching a power purchase agreement that will ensure that two-thirds of the university’s electricity needs will be sourced through solar power, this partnership further enhances our ambitious sustainability goals.
“We are excited to partner with ENGIE to accelerate our progress toward aligning with the UN Sustainable Development Goals, integrating sustainability across our functional areas, and becoming a model for how universities and other complex organizations can strengthen their sustainability efforts.”
Cécile Prévieu, executive vice president in charge of Client Solutions at ENGIE, adds: “Innovative solutions will be developed through our collaborative programme with the campus community and will help us to operate, maintain, and improve campus utility services.”
Over the last three years, ENGIE has implemented energy concession partnerships at the Ohio State University and the University of Iowa. Most recently, ENGIE announced its new collaboration with Howard University, for a 20-year agreement managing the design, construction, operation and maintenance of a new central utility plant on campus.
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