ENGIE North America and Axium Infrastructure Reach Financial Close on Long-Term Georgetown University Energy Infrastructure Partnership
HOUSTON, July 1, 2021 /PRNewswire/ -- Today, Georgetown Energy Partners (GEP), an entity owned by ENGIE North America and Axium Infrastructure (Axium), achieved financial close with Georgetown University through a long-term comprehensive energy management partnership. Under the terms of the 50-year agreement, GEP has assumed sole responsibility to operate, maintain, and modernize the University’s utility system including steam, chilled water, power and domestic water for their main campus location and downtown law center facilities.
This long-term agreement will help accelerate and actualize the University’s ambitious sustainability goals that include a 35 percent overall reduction in energy use intensity and to achieve carbon neutral status by 2030 by leveraging innovative energy solutions and modernization of the existing utility infrastructure. For more information on Georgetown Energy Partners, please visit https://georgetownenergypartners.com.
“The ENGIE team is proud to recognize the final transfer of Georgetown University’s utility system to management under the unified Georgetown Energy Partners group this week,” said Stefaan Sercu, Managing Director Energy Solutions Americas at ENGIE. “Our partnership with Georgetown builds off of a successful track record of the University’s long-term commitment to sustainability – through measurable infrastructure upgrades, impactful renewable generation goals, and integrated academic leadership that promotes interdisciplinary solutions to the climate crisis. We’re looking forward to shaping new opportunities together that accelerate the campus community’s transition to a carbon-neutral future.”
“Axium is thrilled to join the extraordinary community at Georgetown University and to partner once again with ENGIE,” said Thierry Vandal, President of Axium Infrastructure US Inc. “We look forward to supporting Georgetown in meeting its campus sustainability goals and carbon neutrality objective,” added Mr. Vandal.
ENGIE is a leader in energy services for major universities, cities, and critical infrastructure entities around the world. The 50-year partnership with globally-renowned Georgetown University is the latest example in which institutions are turning to a partnership model to manage and operate energy infrastructure upgrades. Over the last three years, ENGIE North America has implemented successful energy concession partnerships at The Ohio State University and the University of Iowa. Most recently, ENGIE North America 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.
Société Générale S.A, acted as Financial Advisor and Lead Arranger for ENGIE. Allen & Overy LLP acted as lead counsel for ENGIE. For Georgetown University, Barclays acted as financial advisor, Jones Day acted as legal advisor and Arup acted as technical advisor.
Axium has a successful track record of investing in critical infrastructure assets on university and corporate campuses throughout the United States. Axium’s commitment to Georgetown University is consistent with the firm’s strategy of delivering expertise and innovation to universities in support of their broader academic mission. This partnership with Georgetown University follows successful collaborations with ENGIE North America at The Ohio State University and the Longwood Medical Area in Boston. Axium has also developed long-term on-campus housing partnerships with several leading Universities in the United States.
About Georgetown University
Established in 1789 by Archbishop John Carroll, Georgetown is the oldest Catholic and Jesuit university in the United States. Located in Washington, DC; Doha, Qatar; and around the world; Georgetown University is a leading academic and research institution, offering a unique educational experience that prepares the next generation of global citizens to lead and make a difference in the world. For more information about Georgetown University, visit Georgetown.edu or connect with Georgetown on Facebook, Twitter, LinkedIn, or Instagram.
About Axium Infrastructure Inc.
Axium Infrastructure (comprised of Axium Infrastructure Inc. and its affiliated entities) is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Axium Infrastructure had approximately US$5 billion in assets under management as of May 31, 2021, as well as over US$1 billion in co-investments. The firm benefits from the capabilities of a group of specialists with decades of experience acquiring, developing, financing, operating and managing infrastructure assets. Focus is placed on assets that are supported by robust market demand and under long-term contract with creditworthy counterparties. Since 2010, the firm has invested in a diversified portfolio of over 165 North American infrastructure assets. For further information, including information about other infrastructure assets the firm has invested in, please visit www.axiuminfra.com.
About ENGIE North America
ENGIE North America Inc. offers a range of capabilities in the United States and Canada to help customers decarbonize, decentralize and digitalize their operations. These include comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense; clean power generation; energy storage; and retail energy supply that includes renewable, demand response, and on-bill financing options. Nearly 100% of the company’s power generation portfolio is low carbon or renewable. Globally, ENGIE S.A. is a global reference in low-carbon energy and services, that relies on their key businesses (gas, renewable energy, services) to offer competitive solutions to customers. With 170,000 employees, customers, partners and stakeholders, the group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions.
ENGIE North America: Sandrine Deparis, email@example.com, (202) 855 3705
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SOURCE ENGIE North America