Infrastructure Investor awards 3 prizes to Meridiam in 2020

Meridiam has been voted as winner in the following categories of the Infrastructure Investor Annual 2020 Awards:

• Energy Deal of the Year, North America (University of Iowa PPP)
• Transport Investor of the Year, Global (A465, A49, Nairobi – Nakuru – Mau Summit Highway, Miami Monorail)
• Transport Investor of the Year, Europe (A465, A49, Sofia Airport)

Energy Deal of the Year – GLOBAL

Meridiam has been awarded, in December 2019, and has reached on March 10th, 2020, financial close of the University of Iowa Utility System Project, a 50-year contract to operate, maintain and upgrade the University’s utility system. This contract is valued at more than $1 billion USD. It aims to address the University of Iowa’s energy, water, and sustainability goals for two campuses spanning 1,700 acres in Iowa City, Iowa. These campuses together form one of the largest university footprints in the United States and serve over 35,000 students and approximately 14,000 employees.

The scope of the concession includes providing heating, cooling, and electricity to the campuses through a dedicated network while also managing high quality and sanitary water and storm sewer services.

One of the key features of this contract is to help the University meet its energy transition objectives and be completely coal-free by 2025. It will therefore concretely contribute to the United Nations Sustainable Development Goals. Meridiam will work with the University to:

• Deliver multiple services and solutions involving reduction in energy usage, renewable energy generation sources, microgrids, energy storage and other innovative technologies preparing the campus for a resilient and sustainable future.
• Build innovative programs about energy transition for students & employees to benefit from experiential learning and innovation via internships, projects, and research opportunities.

Transport Investor of the Year – GLOBAL/Europe

In Africa

On September 30, 2020, Meridiam and The Republic of Kenya signed a concession contract for the development and construction of the Nairobi – Nakuru – Mau Summit highway. This 1.3 billion euro project is one of the largest Public Private Partnership projects in East Africa to date. It calls for the design, financing, widening and renovation work, operation and maintenance of the new 175-km highway for 30 years. This new strategic infrastructure for Kenya will enhance the economic and social development of the entire country and the region’s connectivity. Safety and traffic conditions will also be improved, reducing traffic congestion and environmental pollution on this major Kenyan roadway. This road is particularly used to transport goods imported into Kenya via the port of Mombasa to neighboring countries such as Uganda and South Sudan.

Meridiam is also developing the National Road 1 (“NR1”) project in Gabon. This project is strategic and among key priorities for the Gabon as it is the only national road connecting people and goods from and to Libreville (capital of Gabon) to the rest of the country, and to the frontier with the Republic of Congo. This 33-year concession entails the refurbishment and enlargement of a 93 km road section, the refurbishment of three existing bridges, and the construction of two pedestrian bridge. The project is to improve the quality of the road, the congestion experienced as well as safety issues. While facilitating mobility of people and goods, the project will also increase regional and global economic competitiveness of the country in particular for wood products and stimulate economic activity along the corridor.

In Europe

In the South East of Wales, the firm was awarded this summer a 30-year motorway concession, the A465, valued at more than 500 million euros. This project just reached Financial close in October. This road will provide a safe, fast and strategic east-west connection between Swansea and the English Midlands and support economic growth and regeneration in the region. The Welsh government estimates it will deliver over € 400 millions of direct spend in the country and generate over € 700 millions of Gross Value Added for the wider Welsh economy. It will also deliver a sustainable and resilient scheme by improving environmental standards. Measures will be enforced to protect the watercourses, ecological sites as well as improving air quality and reducing noise impacts on residents. The new road will provide landscape integration planting and is driven by nature conservation objectives aiming to create improved quality habitats for the different living species.

In Germany, in the State of Hessen, Meridiam was awarded the A49 motorway this summer and successfully closed the project in September. This 30-year Public Private Partnership, with a value of over € 700 millions, is part of a larger plan to improve more than 20 essential but outdated and congested German motorways. Preparatory construction works started this September 2020 and completion is scheduled in autumn 2024. This project will improve the safety and traffic conditions, as well as connectivity in the region and therefore its economic and social development, and overall quality of life.

In the USA

Miami Beach Monorail Consortium led by Meridiam was awarded a contract to develop a sustainable mass-public transit link between downtown Miami and the city of Miami Beach. This 5.6 km (3.5 mile) innovative elevated monorail will enhance Miami-Dade County’s standing as a smart city. It will provide a resilient, safe and constant connection between downtown Miami and the city of Miami Beach and will serve as a vital link between the two cities in preparedness of both rising sea levels and the threat of storm surge during hurricanes. The monorail will also alleviate traffic congestion, and will be the first rapid transit link between the two cities, one of which is situated on an island with limited direct access. Subsequently, the project will not only provide a reduction in vehicle miles travelled but also provide a fast, equitable and clean commute option to the City of Miami Beach for most of the County.

Sources:

[1] especially Goal #4 (ensure inclusive and equitable quality education and promote lifelong learning opportunities for all), Goal #6 (ensure availability and sustainable management of water and sanitation for all), Goal #7 (ensure access to affordable, clean, reliable, sustainable and modern energy for all), Goal #9 (build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation) and Goal #13 (take urgent action to combat climate change and its impacts).