The NextGen Energy Program (NextGen) replaces, renews and modernizes the University of Maryland, College Park’s aging energy system.
Renewing the energy system will drive student, faculty and staff productivity, and allow the University of Maryland (UMD) to continue to invest in world-class research, attract the best talent and boost the economic well-being of the region and the state.
NextGen will improve the UMD energy system by:
Under the NextGen P3, UMD has contracted with Maryland Energy Impact Partners (MEIP) to design, engineer, finance and install energy system improvements. MEIP will also manage, operate and maintain the university’s energy systems.
Location
University of Maryland, College Park, MD
Client
University of Maryland
Value (NPV)
US $410 million
Consortium
Maryland Energy Impact Partners (MEIP)
Plenary Americas' role
Developer
Equity investor
Developer & Equity Partner
Kiewit Development Company
Lead Contractor
Kiewit Power Constructors Co.
Operations
Honeywell
Financial close date
June 2024
Contract terms
33 years, DBFOM
Project website
NextGen plays a critical role in ensuring that UMD can depend on a sustainable energy system for decades to come. NextGen not only puts the university on a pathway to achieve its goal of a fossil fuel-free energy system by 2035, but it also increases efficiency and sustainability, reducing carbon emissions from the Central Energy Plant by 23% and saving 50% of the total water usage the plant requires annually.
The Project includes the following features:
The modernization and flexibility of the improved energy system will allow UMD to incorporate emerging technologies. NextGen will provide:
This project was financed using taxable municipal bonds that were designated as Green Bonds by Kestrel 360, Inc. dba Kestrel for their net zero alignment and conformation with the ICMA Green Bond Principles.
The Project team has committed to the following Minority and Women-Owned Business Enterprise targets:
MEIP will provide academic collaborations that include opportunities for undergraduates, graduates, and faculty members and researchers, including:
Related projects
The University of Idaho (the University) and Sacyr Plenary Utility Partners Idaho LLC (SPUPI) have entered into a…
The State Street Redevelopment Project modified traffic patterns on State Street through the Purdue University campus, which downplay…
Considered the nation’s largest urban streetlight modernization P3 project, the $309 million DC Smart Street Lighting Project will be the District’s first public-private partnership.