College Park, Md. — The University of Maryland (UMD) is partnering with Maryland Energy Impact Partners (MEIP), which includes Plenary Americas, Kiewit Development Company, Kiewit Power Constructors Co., and Honeywell on the NextGen Energy Program – the university’s project to renew and modernize its energy system.
“With MEIP’s collaboration, we look forward to designing, engineering, and installing a sustainable energy system the university can depend on for decades to come,” said UMD Vice President and Chief Administrative Officer Carlo Colella.
The University of Maryland and MEIP have secured partnership approvals from the University System of Maryland Board of Regents and the Board of Public Works and are now moving on to financial close, which is expected to take place this summer. As part of the Capital Improvements, MEIP will provide expertise and services for a Decarbonization Strategy Development Plan that will help the university achieve its goal of becoming fossil fuel-free by 2035.
“On behalf of the MEIP team, we are excited to partner with the University of Maryland to bring a more resilient and efficient energy system to the campus,” said Paul Martin, Group Co-Head – Project Structuring & Investment with Plenary Americas.
The NextGenEnergy Program puts UMD on a pathway to achieve the university’s goal of a fossil fuel-free energy system by 2035 and will increase efficiency and sustainability. A $390 million investment in campus infrastructure, the NextGen Energy Program stands to significantly improve energy service on campus and result in immediate environmental impact, including cutting carbon emissions by 23% and reducing water consumption by 50% a year. The program is eligible for an estimated $69 million to $79 million in funding from the Biden administration as part of its Inflation Reduction Act.
More information about the NextGen Energy Program and the planning process is available at nextgen.umd.edu. Construction is expected to begin in July, 2024.
###
The University of Maryland, College Park is the state’s flagship university and one of the nation’s preeminent public research universities. A global leader in research, entrepreneurship and innovation, the university is home to more than 40,000 students, 10,000 faculty and staff, and 300 academic programs. As one of the nation’s top producers of Fulbright scholars, its faculty includes two Nobel laureates, six Pulitzer Prize winners and 58 members of the national academies. The institution has a $2.3 billion operating budget and secures more than $1.3 billion annually in research funding together with the University of Maryland, Baltimore. For more information about the University of Maryland, College Park, visit www.umd.edu.
Maryland Energy Impact Partners (MEIP) is the team selected by the University of Maryland to deliver the NextGen Energy Program. With a strong commitment to sustainable and efficient solutions, the MEIP team is comprised of industry leaders in innovative project design, financing, construction, asset management and operations. Key members of the MEIP team include Plenary Americas (Sponsor), Kiewit Development (Sponsor), Kiewit Power Constructors (Lead Contractor) and Honeywell (Lead Operator).
