P3 energy deal increases Ohio State endowment
Thanks to a public-private partnership, Ohio State University’s endowment will receive $1 billion. The board of trustees recently approved a deal with French company Engie and Axium Infrastructure Inc. of Montreal to manage its energy and electricity systems for 50 years. In return for the upfront payment to the endowment from the private companies, Ohio State will pay more than $54 million annually to Engie and Axium, who will also install energy conservation measures. The deal is expected to improve performance of the endowment fund, help academics and lower energy costs for the school. To learn more about this deal, and see how another Ohio university leveraged P3, click here.