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University of Houston names official energy partner

The University of Houston System has a new energy partner. Photo via UH.edu

TXU Energy announced a multi-year partnership to be the electricity provider for the entire University of Houston System. This partnership will include all four university campuses, UH instructional sites, and multiple athletic facilities and venues.

TXU Energy will also invest $370,000 in UH scholarships over the next ten years, which includes endowed scholarships and funding for programs focused on energy and STEM education.

The contract is designed to meet the needs of a system serving more than 75,000 students.

"When considering the University of Houston's size and the scope of world-class facilities, labs, and research centers that need power, only a provider with a strong history of operational excellence is up to the task," Gabe Castro, senior vice president of business markets for TXU Energy says in a news release.

"We approached this partnership first with the promise of delivering safe, reliable electricity. As we learned more, our market insight and expertise allowed us to create a custom solution that aligns with the university's short and long-term goals."

As a part of the partnership, TXU Energy will also provide Greenback dollars. The Greenback dollars are rebates for making energy-efficiency improvements at university facilities,which can fund new or existing energy efficiency projects.

Last fall, UH announced Rhythm Energy as its athletics energy partner amid the university's transition to the Big 12 conference.

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A View From HETI

HF Capital, the Knoxville, Tennessee-based investment arm of the Haslam family, made the multimillion-dollar commitment to set up Ara Energy Decarbonization. Photo via arapartners.com

Houston-based Ara Partners, a private equity firm that focuses on industrial decarbonization investments, is receiving up to $725 million from a Tennessee-based family office to launch an energy decarbonization unit.

HF Capital, the Knoxville, Tennessee-based investment arm of the Haslam family, made the multimillion-dollar commitment to set up Ara Energy Decarbonization. The new business will work toward reducing carbon emissions at ethanol plants, natural gas power plants, and other traditional energy assets.

The Haslam family founded Pilot Co., North America’s largest transportation fuel business and chain of travel centers. Shameek Konar, former CEO of Pilot, has been tapped to lead Ara Energy Decarbonization.

“It is an uncomfortable truth that highly pollutive energy sources are going to play an essential role in delivering an energy transition over the next several decades,” Charles Cherington, co-founder and managing partner of Ara, says in a news release. “We can ignore these staggering carbon emissions, or we can apply our proven methods and financing expertise to decarbonize the conventional energy value chain.”

The energy sector accounts for more than 75 percent of global greenhouse gas emissions.

“The world’s energy demands are increasing and complex, and renewable power needs time and support for it to fulfill rising global energy demand. Ara’s … skillset, portfolio network, and decarbonization management knowledge [are] perfectly positioned to attack the carbon-intensive energy sector,” Konar says.

Ara Partners closed its third private equity fund in December 2023 with over $2.8 billion in new commitments. As of June 30, 2024, Ara Partners had about $6.3 billion of assets under management.

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