Investor-developer Bernhard has signed an energy as a service P3 agreement with a major healthcare provider, with savings enabling capital improvements.
Under the plans, Bernhard will invest $17m into infrastructure improvements at Maury Regional Medical Center healthcare portfolio in Tennessee to deliver major energy savings.
The 25-year deal will see the portfolio garner at least a 39% energy saving, with the agreement also providing seed capital for the authority to begin its first major construction project in 20 years, expanding its services and offering.
The deal is emblematic of a new wave of P3 projects emerging from the sector, with authorities in the healthcare and university sectors looking to derive revenues from existing assets, such as energy systems, to spur further investment.
Maury Regional Health’s Charlie Brinkley said: “Bernhard’s unmatched history in energy solutions makes them the perfect partner as we upgrade and expand our facility infrastructure to provide advanced, comprehensive care close to home for the families of Southern Middle Tennessee.”