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Global Water Award announced in the United Arab Emirates
Carlsbad, CA – The Claude “Bud” Lewis Carlsbad Desalination Plant has been honored with a Global Water Award as the Desalination Plant of the Year for 2016 by Global Water Intelligence, publisher of periodicals for the international water industry. The award, announced this week at the Global Water Summit in Abu Dhabi, United Arab Emirates, goes to “the desalination plant, commissioned during 2015, that represents the most impressive technical or ecologically sustainable achievement in the industry.”

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.

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."

Private Equity Purifies Pacific to Boost California Water
After a decade of struggles to assuage environmentalists, raise almost $1 billion and win permits, Poseidon Resources Group will finally answer a critical question: Is converting seawater to drinking water a profitable venture in the U.S. when there are cheaper options? The developer of water infrastructure projects began site work last month on the Carlsbad desalination plant, the largest of its kind in the Western Hemisphere. When completed in 2016, the facility 33 miles (53 kilometers) north of San Diego each day will create 54 million gallons of drinking water after drawing it from the salty Pacific Ocean. Bankrolled by a $922 million JPMorgan Chase & Co.-led public-private bond offering -- the biggest U.S. project financing deal of 2012 -- Carlsbad’s chances of success are aided by a 30-year agreement with San Diego’s water authority to buy water from the plant. If successful, the project may become a model for how to ease a growing water crunch.

Read the full article at ​bloomberg.com.