OSU could save $250M by leasing out energy management
Ohio State University (OSU) is calling for companies to submit their qualifications to manage the university’s utilities in exchange for a long-term lease, Columbus Business First reports. OSU has been exploring this option for more than a year (see our October 30, 2014 blog post for more on this) in hopes that such a move “could free up millions for academics,” as conservative estimates “to implement concerted energy efficiency measures across campus . . . price the effort at $250 million.” The company or companies that win a contract “would get money back based on energy-efficiency savings they generate for the school.” The university would save money as well. OSU CFO Geoff Chatas said, “Our dividend, if you will, would come over time as we would spend less on energy consumption.” OSU’s energy costs were $100 million for fiscal year 2014. For more, read the full article.