The University of Idaho (the University) and Sacyr Plenary Utility Partners Idaho LLC (SPUPI) have entered into a 50-year contract under which SPUPI will operate and maintain the University’s campus utility system and deliver certain system renovations and improvements in exchange for periodic utility fee payments from the University of Idaho.
The project allows for the University of Idaho to make significant investments in its core educational mission while also benefitting from the SPUPI team’s record of world class asset management.
Moscow, Idaho, USA
University of Idaho
US $225 million
Manager of the SPV
Operations & Maintenance
Financial close date
50 years, FOM
The project features four principal systems: district heating, district cooling, water distribution, and electricity distribution. Not only is the Concessionaire responsible for the operations and maintenance of these systems, but also the major repair, rehabilitation, and expansion as required to meet the University’s needs over the entire 50-year term. Each major intervention will require a tailored design and construction plan pursuant to an overarching capital works program, which is collaboratively developed by the University and Concessionaire and jointly updated on an annual basis.
The project team has incorporated several technical and commercial innovations within the Concession to assist the University in achieving their broader technical, financial, environmental, and social goals. Our team will endeavor to:
The SPUPI team has committed making a $225 million upfront payment to the University for the right to enter into the contract, $153.1 million of which will be placed directly into a Strategic Initiatives Fund the University will invest in its core educational mission.
In addition to the upfront payment, the SPUPI team is also committed to serving as a long-term partner to the University. Plenary and Sacyr will both actively participate in student enrichment through internship programs and on-campus lectures.
The SPUPI team is also making an active effort to retain and incorporate existing utility system employees into its world-class asset management network.
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