The 200-acre Longwood Medical Area is home to six Harvard Medical School-affiliated medical institutions. Morgan Stanley Infrastructure Partners and Veolia Energy North America formed a consortium to acquire the energy assets, with Veolia Energy North America taking a minority interest.
The operating contract will take effect upon the close of the MATEP acquisition, which is subject to customary regulatory approvals and the expiration of the waiting period under the Hart-Scott-Rodino Act.
Stewart Wood, president and CEO of Veolia Energy North America, said: “Operating and maintaining large thermal and electrical energy infrastructure in a cost-effective, energy-efficient, and environmentally sustainable manner is Veolia Energy’s core business.
“Veolia Energy is well-versed in the specific requirements of serving healthcare institutions. Applying our operating expertise for the comfort of all patients and performance guarantees for the benefit of these prominent hospitals provides an optimal fit for all stakeholders.”
MATEP is a central district energy plant (heating and cooling) that operates in both cogeneration (combined heat and power) and combined cycle modes. The facility is comprised of combustion turbines, diesel and steam turbine generators, heat recovery steam generators, conventional boilers and large industrial chillers.
