FOR IMMEDIATE RELEASE Contact: Jessica Jones 760-655-‐3900 download a pdf
Chamber Honors Key Carlsbad Desalination Project Team Leader

Carlsbad, CA - Senior Vice President Peter MacLaggan of Poseidon Water was named Businessperson of the Year by the Carlsbad Chamber of Commerce last week. The award, which was announced at the Chamber's Sea of Opportunity 2015 Annual Business Awards Dinner, recognizes macLaggan's leadership on the Carlsbad Desalination Project. 

FOR IMMEDIATE RELEASE Contact: Tatiana Halsted (707) 631-8906 download a pdf.
Brown urges diversifying water options, including desalination, in State of the State address 

​SACRAMENTO, CA – In response to Governor Jerry Brown’s State of the State address, Poseidon Water issued the following statement in support of the Governor’s call for desalination. In his address, Governor Brown emphasizes there is no single solution to the state’s water problems and references the framework for success laid out in Proposition I (The Water Bond) and the more recent California Water Action Plan, and specifically called for more desalination in California. ​

FOR IMMEDIATE RELEASE Contact Jessica Jones 760-655-3900 download a pdf

Carlsbad, CA – Poseidon Water (“Poseidon”) has announced that IDE Technologies (“IDE”) has selected Protec Arisawa (“Protec”) and Dow Water & Process Solutions (“Dow”) to provide the pressure vessels and reverse osmosis membranes for the Carlsbad Desalination Project. Both key elements of the desalination process, the membranes act as the filter that separates salt and other impurities from water molecules to create clean and fresh drinking water, and the pressure vessels house these membranes.

FOR IMMEDIATE RELEASE Contact Brooke Joller 858-248-1959 download a pdf
Project on Track to Deliver up to 50 Million Gallons of Water per Day by Early 2016
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Carlsbad, CA – City leaders, San Diego County Water Authority board officers, IDE Technologies, NRG Energy and Poseidon Water executives visited the Carlsbad Desalination Project today to mark the first anniversary of construction on the Western Hemisphere’s largest seawater desalination plant, which is more than 25 percent complete. 

SAN DIEGO - The ground breaking Carlsbad Desalination Project, under development in North Coastal San Diego County by Poseidon Water, was recently honored as a 2013 Bond Buyer Deal of the Year Finalist. "The Carlsbad Desalination Project is an excellent example of how complicated, yet critical, projects can succeed when innovative financing approaches are explored," said Andrew Kingman, Poseidon Water Chief Financial Officer.  "Poseidon is honored to be recognized by a distinguished leader in the municipal bond industry, and we look forward to presenting our latest project to the California Coastal Commission this week."

Read the full article online at ​prnewswire.com.

Global Water Intelligence has awarded Poseidon Water Desalination Deal of the Year for the Carlsbad Desal Plant. What makes it special?

• The Carlsbad financing package marks the successful culmination of a decade of painstaking preparation and tremendous tenacity by Poseidon Resources. It proves beyond all doubt that with the right determination, large-scale desalination infrastructure in the US can be financed – even in California.
• After indicating an average interest rate of 5.60%, propitious market conditions allowed the debt component of the deal to be priced at 4.78% – saving ratepayers an estimated $200 million in debt service costs over the lifetime of the bonds.
• The water resourcing challenges of the arid Southwestern US require innovative financing solutions. The pioneering collaborative approach taken at Carlsbad will serve as a blueprint for the financing of other large-scale desalination projects across the southern US.

Read the full article online at globalwaterawards.com.

Project Finance magazine cites Water Authority’s role and credit were key to successMarch 8, 2013 - The Carlsbad Desalination Project was honored Thursday in New York as the “North American Water Deal of the Year” for 2012 by Project Finance, an international trade publication that annually highlights major industry accomplishments around the world.
Carlsbad Desalination Project

• Total capital cost: $1.003 billion (includes plant, pipeline, financing costs and Water Authority system modifications)
• Bond interest rate: 4.78 percent
• Developer: Poseidon Resources
• Construction contractors: Kiewit Infrastructure West and J.F. Shea Construction Inc.
• Water deliveries: Expected to begin in 2016
• Production: 48,000 to 56,000 acre-feet/year

The magazine’s March issue said the $734 million bond issue in December “could serve as a useful template” for public-private partnerships in the water industry, particularly for seawater desalination projects. 

Infrastructure Investor Magazine has given it's North American Infrastructure Deal of the Year award to Poseidon Water for the Claude "Bud" Lewis Carlsbad Desalination Plant. 
"The $733.56 million issue of bonds for Poseidon Resources’ Carlsbad reverse osmosis desalination project took ten years to come to market. But it could serve as a useful template for applying PPP structures to water assets, particularly in ocean water desalination.The project, located in Carlsbad, California, had a long gestation because of the highly public nature of the project and what it will produce. Poseidon ultimately came to work with the San Diego County Water Authority, whose role as offtaker was the key to bringing the deal to close. Poseidon will own the plant, which will sell output to the water authority under a 30-year water purchase agreement (WPA), and the agency will own an associated pipeline, though the sponsor will be responsible for building it."