ENGIE and Axium Reach Financial Close of the 50-year Comprehensive Energy Management Contract with The Ohio State University
August 15, 2017 – Houston, TX and New York, NY – ENGIE North America Inc. and Axium Infrastructure US are pleased to announce the financial close of a transaction to operate and maintain The Ohio State University’s utility system at the 485-building campus in Columbus, Ohio, one of the largest university campuses in the United States.
The consortium had announced on April 7, 2017 that the university’s Board of Trustees awarded the Axium-ENGIE consortium a 50-year concession to operate and optimize the university’s district energy system, including implementation of a comprehensive energy conservation program, with the objective of improving the university’s energy efficiency by at least 25% within 10 years. The concession also includes the construction of a new Energy Advancement and Innovation Center for energy research and commercialization. The Center will create a living laboratory where faculty, students, alumni, entrepreneurs, industry experts, and ENGIE researchers can collaborate on next-generation technologies and services in areas such as smart energy systems, renewable energy, and green mobility.
“Financial close of this 50-year concession is a milestone in a truly groundbreaking partnership,” said Frank Demaille, CEO of ENGIE North America. “ENGIE, together with Axium, looks forward to advancing new possibilities with the Ohio State community, from improving ways to heat, cool, and power the campus to collaborating on potentially transformational technologies and services that someday could be shared far beyond Columbus.”
“Axium is thrilled to have established and now closed a first-of-its-kind, long-term energy management partnership with The Ohio State University. We believe that the Axium-ENGIE consortium can deliver world class operations as well as the implementation of a 21st century sustainability program at Ohio State’s Columbus campus.” said Thierry Vandal, President of Axium Infrastructure US. “This investment is a landmark transaction in the infrastructure industry and a great addition to our existing North American portfolio of over 60 core energy, transportation and social infrastructure assets.”
About ENGIE and Axium
ENGIE manages a range of energy businesses in the United States and Canada, including electricity generation and cogeneration, natural gas and liquefied natural gas (LNG) distribution and sales, retail energy sales, and comprehensive services to help customers run their facilities more efficiently and optimize energy use and expense. Nearly 100 percent of the company’s power generation portfolio is low carbon or carbon free. Globally, the company is present in 70 countries and employs 153,090 people, including 1,000 researchers in 11 R&D centers. For more information, please visit www.engie-na.com, @ENGIENorthAm, and www.engie.com.
Axium is a long-term, buy-and-hold infrastructure investment firm with over $1.8 billion in assets under management, as well as approximately $1 billion in managed co-investments. Axium currently holds a diversified portfolio of power and energy, transportation, and social infrastructure assets, including substantial investments in renewable energy to date, with interests in over 2.5 GW of wind, solar and hydroelectric power generation across North America.
ENGIE Press contact
713 636 1962
Axium Press contact
514 954 3781