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.
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