Wednesday, February 24, 2021

Jim Bernhard got what he wanted

Was obvious they would have to cut him in one way or another. This seems pretty creative

The LSU Board of Supervisors voted Tuesday to split an $810 million energy deal between two contractors, Enwave Energy Corp. and a joint venture that includes Baton Rouge businessman Jim Bernhard and the national firm Johnson Controls Inc.

The LSU board did not disclose the price of the deal during the meeting, but LSU officials confirmed it afterward. The agreement calls for the university to pay Enwave $27 million per year over the next three decades. How much money Enwave makes off the deal will fluctuate annually based on natural gas prices and the price of the energy Enwave produces for LSU, said LSU spokesman Ernie Ballard.

Enwave will pay Louisiana Energy Partners — the name of the joint venture between Bernhard LLC and Johnson Controls — directly, instead of LSU paying both entities, Ballard said.
I wonder if that means he can be on the board now, too.

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