Facility ownership transfer approved by Water Authority Board; Poseidon to continue plant management
 
Carlsbad, Calif. (October 24, 2019) – Bonds from the Carlsbad Desalination Plant and pipeline were upgraded to BBB and given a stable outlook in a new report from Fitch Ratings, affirming the project’s sound management and its ability to provide a stable, reliable source of drinking water to the San Diego region. As the largest, most technologically advanced and energy-efficient plant of its kind in the nation, the Claude “Bud” Lewis Carlsbad Desalination Plant’s stability stems from an effective collaboration between Poseidon Water and the San Diego County Water Authority.
 
That partnership will continue under a transfer of ownership from Orion Water Partners to Aberdeen Standard Investments approved Thursday by the Water Authority’s Board of Directors. The transfer – made public in June – will not alter day-to-day operations at the Carlsbad facility or create a fiscal impact to the Water Authority.

Finance Program Will Reduce Ratepayer Water Costs; Support 3,000 jobs during Construction
 
HUNTINGTON BEACH, CA (October 22, 2019) – Poseidon Water released the following statement in response to today’s announcement that the U.S. Environmental Protection Agency has selected the proposed Huntington Beach Desalination Project to apply for $585 million in credit assistance under the federal government’s Water Infrastructure Finance and Innovation Act (WIFIA).
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“We are pleased by the U.S. EPA’s acknowledgment that the Huntington Beach Desalination Project is an environmentally sound, regionally significant project that will produce clean, safe drinking water and high-quality jobs,” said Poseidon Water CEO Carlos Riva. “WIFIA will make a tangible difference for Orange County, providing ratepayers with affordable water that is locally controlled and climate resilient.  The program is an excellent example of how the federal government can foster Public-Private Partnerships that modernize our nation’s water infrastructure.”