Bonds from the Carlsbad Desalination Plant and pipeline were upgraded to BBB and given a stable outlook in a new report from Fitch Ratings. The rating upgrade affirms the project’s sound management and its ability to provide a stable, reliable source of drinking water to the San Diego region.
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).
“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.”
On October 30, 2019, underprivileged 2nd, 3rd and 4th grade students in Cal State Fullerton’s Center for Healthy Neighborhoods Program toured the Bolsa Chica wetlands as guests of the Bolsa Chica Conservancy. With Poseidon Water hosting the tour and the transportation to and from Fullerton, these students had an opportunity to learn about how an ecologically diverse and healthy wetlands results in cleaner water and a cleaner environmental for all of Orange County.
Voice of Orange County
Op-Ed by Kelley Gage
A recent news release posted on the Voice of OC website was clouded by mischaracterizations of the Claude “Bud” Lewis Carlsbad Desalination Plant, which provides an important source of drinking water for San Diego County and reduces our region’s reliance on the Sacramento-San Joaquin Bay-Delta.
The plant is the result of a historic public-private partnership between the San Diego County Water Authority and Poseidon Water to ensure supply reliability for more than 3 million residents across the region. It helped to ensure that the Water Authority had sufficient water to meet demand during the last drought, and we are confident it will help us weather the next drought … and the one after that.
“Desalination must be included in any discussion of future water sources for Orange County."