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For Thierry Déau, founder and CEO of the global infrastructure investor Meridiam, water is not merely an investment asset. Founded in 2005 by Déau, the investment firm operates with a mission to finance and manage infrastructure that meets long-term public needs. With more than €23 billion in assets under management across 90+ projects in 27 countries, the firm has become a recognised leader in sustainable investing, particularly in energy, mobility, and essential services like water.
Ethical investing and the universal need for water
What distinguishes Meridiam is its foundational philosophy: to create long-term value for communities while aligning with environmental and social goals. A certified B Corp since 2020 and a signatory of the UN’s Principles for Responsible Investment (PRI), Meridiam integrates ESG (Environmental, Social, and Governance) criteria at every level of decision-making. In Thierry Déau’s own words : “Impact is not a destination, it is a journey. We have our guiding mission and ambitious goals. These are matched by strong commitments, as well as by the tools and resources to really measure the impact we – and our infrastructure assets – are having on people and the planet.”
Among the many infrastructure challenges that Meridiam addresses, water holds a particular place of importance. Today, an estimated 2.4 billion people live in countries experiencing high water stress according to the UN. Climate change is exacerbating droughts, depleting aquifers, and destabilising water distribution systems. The result is a growing global imbalance where water-rich regions coexist uneasily with water-starved ones. "Water is not only essential—it is political, environmental, and social,” Déau argues. “Its fair distribution and sustainable management are key to peace and prosperity.” This belief underpins Meridiam’s increased focus on water infrastructure, from wastewater treatment and desalination to distribution networks and smart metering. The group’s involvement with Suez (whose board of directors is being chaired by Thierry Déau himself) in Jordan exemplifies this long-term vision.
The Aqaba-Amman desalination project
Indeed, this plant, taking place in one of the world’s most water-deprived countries is one of Meridiam’s most ambitious water projects to date. Jordan’s per capita water availability has dropped to less than 100 cubic meters per year—well below the international water poverty line of 500 cubic meters. To tackle this crisis, the Jordanian government awarded a landmark Build-Operate-Transfer (BOT) contract to a consortium led by Meridiam and Suez. The project, worth approximately €1.5 billion, involves constructing a desalination plant in Aqaba on the Red Sea, with a 450-kilometer pipeline transporting potable water to Amman and other northern cities.
According to Construction Cayola, the plant will be capable of producing over 300 million cubic meters of water annually. This will significantly reduce Jordan’s dependence on rapidly declining underground aquifers and unreliable regional water-sharing agreements. Importantly, the desalination process will be powered substantially by renewable energy, with solar and wind sources helping to reduce the project’s carbon footprint. As part of the 30-year concession, Meridiam and Suez will design, finance, build, and operate the plant and distribution infrastructure, before transferring ownership back to the Jordanian government.
Suez: sustainable engineering
Meridiam’s choice of Suez was strategic. Suez, a global leader in environmental services, brings unmatched expertise in water and waste management. With operations in more than 40 countries and over 90,000 employees, Suez manages water supply for 68 million people and wastewater treatment for 37 million. The company is known for integrating cutting-edge technologies into water management, such as real-time monitoring systems and advanced filtration techniques. These innovations not only improve efficiency but reduce environmental impact. The Aqaba-Amman project is expected to incorporate digital tools to minimize water loss and enhance pipeline maintenance.
“We are grateful and proud to have been selected, together with our partners, to deliver water to Jordan. This essential, transformative and landmark project will provide a reliable and long-term sustainable solution to Jordan’s water challenges. It will make a significant contribution to meeting the critical daily fresh and potable water needs of the Jordanian people,” explained Thierry Déau. For him, projects like the Jordan desalination plant are not simply business ventures. They are instruments of global solidarity and long-term transformation. He is an outspoken critic of short-term investment logic and an advocate for infrastructure that serves the common good.
This aligns with Meridiam’s guiding values. The firm’s investment committee explicitly weighs projects’ contribution to the UN’s Sustainable Development Goals (SDGs), especially SDG 6 (Clean Water and Sanitation) and SDG 13 (Climate Action). In this regard, the Jordan project directly addresses two fronts: securing equitable access to water and decarbonising essential infrastructure. Meridiam’s approach also emphasizes transparency and accountability. The firm routinely publishes impact reports, verified by independent auditors, that assess the environmental and social outcomes of its projects.
The future of ethical infrastructure
Looking ahead, Meridiam plans to expand its water investment and sustainable and impact investment portfolio across Africa, the Middle East, and parts of Asia—regions where population growth and climate vulnerability make water infrastructure an urgent priority. At the same time, the firm is exploring innovations such as decentralised treatment systems, circular water use, and public education initiatives to reduce water waste.
Thierry Déau remains a firm believer in public-private partnerships (PPPs) as a tool for impact when structured equitably. He argues that ethical investing should not be seen as charity but as a framework for long-term, stable returns that align with societal values, and a direct response to public demand. “The very basis of Meridiam’s business model is our ability to make long-term commitments. From the outset, the design of our projects is linked above all to public demand, right up to the moment of operation, he stated in an interview with African Business, we need to forge partnerships with the public, governments and local authorities, particularly in areas such as Africa, which require partnerships with multilaterals or bilateral financial institutions in order to bring the best of our projects to life.”
As the world confronts growing water insecurity, Meridiam’s model of ethical, impact-driven infrastructure investment offers both hope and a pragmatic path forward. Through visionary leadership, strategic alliances like that with Suez, and a commitment to sustainability, Thierry Déau is proving that financial stewardship and ecological transition are not incompatible—but in fact, inseparable. The future of water, it seems, may lie not in abundance, but in how wisely and ethically it is managed. And in that future, Meridiam intends to play a leading role.
Ethical investing and the universal need for water
What distinguishes Meridiam is its foundational philosophy: to create long-term value for communities while aligning with environmental and social goals. A certified B Corp since 2020 and a signatory of the UN’s Principles for Responsible Investment (PRI), Meridiam integrates ESG (Environmental, Social, and Governance) criteria at every level of decision-making. In Thierry Déau’s own words : “Impact is not a destination, it is a journey. We have our guiding mission and ambitious goals. These are matched by strong commitments, as well as by the tools and resources to really measure the impact we – and our infrastructure assets – are having on people and the planet.”
Among the many infrastructure challenges that Meridiam addresses, water holds a particular place of importance. Today, an estimated 2.4 billion people live in countries experiencing high water stress according to the UN. Climate change is exacerbating droughts, depleting aquifers, and destabilising water distribution systems. The result is a growing global imbalance where water-rich regions coexist uneasily with water-starved ones. "Water is not only essential—it is political, environmental, and social,” Déau argues. “Its fair distribution and sustainable management are key to peace and prosperity.” This belief underpins Meridiam’s increased focus on water infrastructure, from wastewater treatment and desalination to distribution networks and smart metering. The group’s involvement with Suez (whose board of directors is being chaired by Thierry Déau himself) in Jordan exemplifies this long-term vision.
The Aqaba-Amman desalination project
Indeed, this plant, taking place in one of the world’s most water-deprived countries is one of Meridiam’s most ambitious water projects to date. Jordan’s per capita water availability has dropped to less than 100 cubic meters per year—well below the international water poverty line of 500 cubic meters. To tackle this crisis, the Jordanian government awarded a landmark Build-Operate-Transfer (BOT) contract to a consortium led by Meridiam and Suez. The project, worth approximately €1.5 billion, involves constructing a desalination plant in Aqaba on the Red Sea, with a 450-kilometer pipeline transporting potable water to Amman and other northern cities.
According to Construction Cayola, the plant will be capable of producing over 300 million cubic meters of water annually. This will significantly reduce Jordan’s dependence on rapidly declining underground aquifers and unreliable regional water-sharing agreements. Importantly, the desalination process will be powered substantially by renewable energy, with solar and wind sources helping to reduce the project’s carbon footprint. As part of the 30-year concession, Meridiam and Suez will design, finance, build, and operate the plant and distribution infrastructure, before transferring ownership back to the Jordanian government.
Suez: sustainable engineering
Meridiam’s choice of Suez was strategic. Suez, a global leader in environmental services, brings unmatched expertise in water and waste management. With operations in more than 40 countries and over 90,000 employees, Suez manages water supply for 68 million people and wastewater treatment for 37 million. The company is known for integrating cutting-edge technologies into water management, such as real-time monitoring systems and advanced filtration techniques. These innovations not only improve efficiency but reduce environmental impact. The Aqaba-Amman project is expected to incorporate digital tools to minimize water loss and enhance pipeline maintenance.
“We are grateful and proud to have been selected, together with our partners, to deliver water to Jordan. This essential, transformative and landmark project will provide a reliable and long-term sustainable solution to Jordan’s water challenges. It will make a significant contribution to meeting the critical daily fresh and potable water needs of the Jordanian people,” explained Thierry Déau. For him, projects like the Jordan desalination plant are not simply business ventures. They are instruments of global solidarity and long-term transformation. He is an outspoken critic of short-term investment logic and an advocate for infrastructure that serves the common good.
This aligns with Meridiam’s guiding values. The firm’s investment committee explicitly weighs projects’ contribution to the UN’s Sustainable Development Goals (SDGs), especially SDG 6 (Clean Water and Sanitation) and SDG 13 (Climate Action). In this regard, the Jordan project directly addresses two fronts: securing equitable access to water and decarbonising essential infrastructure. Meridiam’s approach also emphasizes transparency and accountability. The firm routinely publishes impact reports, verified by independent auditors, that assess the environmental and social outcomes of its projects.
The future of ethical infrastructure
Looking ahead, Meridiam plans to expand its water investment and sustainable and impact investment portfolio across Africa, the Middle East, and parts of Asia—regions where population growth and climate vulnerability make water infrastructure an urgent priority. At the same time, the firm is exploring innovations such as decentralised treatment systems, circular water use, and public education initiatives to reduce water waste.
Thierry Déau remains a firm believer in public-private partnerships (PPPs) as a tool for impact when structured equitably. He argues that ethical investing should not be seen as charity but as a framework for long-term, stable returns that align with societal values, and a direct response to public demand. “The very basis of Meridiam’s business model is our ability to make long-term commitments. From the outset, the design of our projects is linked above all to public demand, right up to the moment of operation, he stated in an interview with African Business, we need to forge partnerships with the public, governments and local authorities, particularly in areas such as Africa, which require partnerships with multilaterals or bilateral financial institutions in order to bring the best of our projects to life.”
As the world confronts growing water insecurity, Meridiam’s model of ethical, impact-driven infrastructure investment offers both hope and a pragmatic path forward. Through visionary leadership, strategic alliances like that with Suez, and a commitment to sustainability, Thierry Déau is proving that financial stewardship and ecological transition are not incompatible—but in fact, inseparable. The future of water, it seems, may lie not in abundance, but in how wisely and ethically it is managed. And in that future, Meridiam intends to play a leading role.
