FAIRBANKS — The University of Alaska Fairbanks has hired an Iowa-based engineering firm to plan the next phase of design for a new $245 million power plant on campus.

Stanley Consultants was won the $13.6 million contract to plan the coal-fired plant, which will provide electricity and heat to the Fairbanks campus. The new plant will be built next to the existing power plant, which is nearing the end of its life after 50 years of operation.

Stanley Consultants describes itself as a global consulting engineering firm that has designed power plants for more than 75 years. It will work with a consultant, Fairbanks-based Design Alaska, to provide design and engineering work for the 22 megawatt project.

Stanley has been part of the process for the past three years after being selected by UAF to study options for the new plant. Design work should be completed by early 2016, with construction finished in 2018.