Ohio State's Endowment Gets $1 Billion With Campus Energy Deal
- Engie SA, Axium to manage school’s energy assets for 50 years
- Board of trustees approved public-private partnership
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Ohio State University’s endowment will jump 25 percent in size with a $1 billion payment from two companies that will lease the school’s energy assets for 50 years.
The school’s board of trustees on Friday approved a public-private partnership with French company Engie SA and Montreal-based Axium Infrastructure Inc. to run and manage its energy and electricity systems in exchange for annual payments expected to exceed $54 million.