Abengoa selected to develop first-of-its-kind water delivery project in the U.S.
WASHINGTON, July 2, 2014 /PRNewswire/ -- Abengoa (MCE: ABG.B /NASDAQ: ABGB), a company that applies innovative technology solutions for sustainability in the energy and environment sectors, has been selected to deliver 50,000 acre-feet per year of water to the city of San Antonio, Texas.
Abengoa will lead a team of local sub-contractors and consultants within the Vista Ridge Consortium to design, build, finance and operate the infrastructure needed to deliver the water. The water will be delivered from Burleson County and contracted for a period of 30 years. Construction is expected to begin in 2015 and to be completed in 2019. During the 42 month construction phase, up to 300 jobs will be created.
Manuel Sanchez Ortega, CEO of Abengoa, said, "We applaud the San Antonio Water System (SAWS) and the city of San Antonio for their vision as they actively pursue non-Edwards water supplies to secure the city's water future. We believe that this project is a critical solution in addition to other options the city is exploring to alleviate its water supply challenges."
The project will deliver 168,970 m3/day (50,000 acre-feet per year) through a 225 kilometer (142 mile) pipeline. In addition to the pipeline, the project also includes a water treatment plant, 18 wells and three pump stations.
"This project is a game-changer for San Antonio's future, helping us meet a diverse and growing demand for water decades to come," said Robert Puente, CEO and President of SAWS in a press release.
The city is an ideal partner because its leaders are progressive and SAWS, renowned for its conservation efforts, has implemented great water management practices. A combination of a new water supply for 30 years and continued conservation practices will ensure that present and future generations will continue to flourish.
Furthermore, new water supply will provide environmental benefits to the Edwards Aquifer, ensuring vitality of the Aquifer and the endangered species that depend on its spring flow.
This project will help to solve the city's goal of diversifying its water sources and securing water in the long term. In addition, the project will aid in San Antonio's continuing efforts to achieve its economic goals and to continue being a competitive player in the national and global market.
Abengoa employs more than 4,000 people in the United States, which reflects an annual growth of 17 percent over the past two years. Abengoa is expanding its projects in the water sector and strengthening its commitment to the U.S. market, where it currently has a presence in 12 states.
Abengoa is a 70 year-old global infrastructure company. It supplies drinking water to more than 6 million residents around the world through water infrastructure projects. The company has completed more than 50 pipeline projects and has successfully executed every design-build contract awarded. On the financing side, Abengoa has successfully completed more than 100 projects using project finance. Total investment in these projects exceeds $20 billion.
Abengoa (MCE: ABG.B /NASDAQ: ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)
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