Ohio State is planning to sign the largest deal in university history – worth $1.165 billion – with ENGIE-Axium, a french energy provider.
The deal will make ENGIE-Axium Ohio State's energy provider for the next 50 years.
From an Ohio State release:
The total value of $1.165 billion includes a $1.015 billion upfront payment to the university and a $150 million commitment to support academics in specific areas requested by students, faculty and staff during the bidding process. This would be the largest single investment in Ohio State’s academic mission.
ENGIE North America and Axium Infrastructure (ENGIE-Axium) are world leaders in energy services and sustainability. The two companies formed a new consortium to combine their expertise for this project and provided the strongest proposal. Detailed reviews and scoring of the finalists were conducted by groups composed of students, faculty and staff from the university.
“This partnership would position us as an international leader in energy and sustainability and further strengthen Ohio State as a national flagship public research university,” said President Michael V. Drake.
The Board of Trustees will officially vote on the proposal at its April 7th meeting. If it's approved, Ohio State will receive a receive $1.015 billion upfront payment immediately.