Eastern Michigan University (“EMU”) achieved financial close today on a 50-year infrastructure partnership with CenTrio. The financing included a $115 million upfront payment to the University and $50 million for energy conservation measures and immediate infrastructure improvements. This partnership is set to deliver significant and lasting enhancements for facilities, students, faculty, staff, and the broader Ypsilanti community.
Under the terms of the partnership, the University will receive considerable revenue and resources to improve sustainability, implement new energy conservation measures and reduce energy usage, modernize its energy grid, accelerate decarbonization, and address critical deferred maintenance while also receiving significant funds to directly assist students and support faculty, retention, recruitment, satisfaction, and a positive campus experience among other strategic initiatives.
CenTrio’s efforts will support President Smith’s Sustainability Commission to drive progress toward lower carbon emissions, improving the health of the campus and local community. Energy conservation measures are scheduled to reduce natural gas and electric consumption by up to 35% due to the operating expertise of the consortium and investment in various capital projects. The University will be able to generate a continuous income stream through the $115 million upfront consideration and operational savings to support academic programs and staff, strategic enrollment, and retention initiatives, and provide opportunities for students, faculty, and staff to provide input on projects to better the campus and the community.
“This is a significant milestone for Eastern’s future,” said Eastern Michigan University President James Smith. “I’m proud Eastern is leading the way in a partnership that supports environmental sustainability, academic programs, strategic enrollment and retention initiatives while including a remarkable opportunity for the EMU community to participate in sustainability research and to develop projects to support enrollment and retention objectives. This partnership will help Eastern develop future leaders for green jobs while reducing our resource consumption.”
“CenTrio is excited to have completed this final step in solidifying the 50-year partnership aimed at modernizing and managing the University’s infrastructure and delivering reliable, efficient, and sustainable energy,” said Santanu Khan, Senior VP of Corporate Development of CenTrio. “Ultimately, our investment empowers the University to focus on its core business of academics and research, while enabling us to provide significant value from enhanced safety measures through operational excellence, as well as reduction in energy consumption, GHG, and water usage across the entire system.