• / Free eNewsletters & Magazine
  • / My Account
Home>Abengoa selected to develop first-of-its-kind water delivery project in the U.S.

Related Content

  1. Videos
  2. Articles
  1. Danoff, Davis, Lynch: Stock-Picking Ahead of the Crowd

    The past Morningstar Manager of the Year winners favor credit card firms, split views on Facebook, address China's importance, extol executives' foresight for future growth and disruption, and much more in this panel presentation at the Morningstar Investment Conference.

  2. Moat-Building Mergers

    Strategic deals at GE and Oracle will support their wide moats, while AbbVie aims for tax relief in its bid for Shire.

  3. Conditions Look Favorable for Muni Bonds

    Increasing demand, tightening supply, and expectations for higher rates and inflation should bring better muni returns in the coming years, says Nuveen's John Miller, Puerto Rico notwithstanding.

  4. Gross: Economy Can't Survive Much Higher Rates

    During his keynote presentation at the Morningstar Investment Conference, the PIMCO manager made the case that high debt levels and a need for financial stability mean that central banks should keep real rates close to zero for some time.

Abengoa selected to develop first-of-its-kind water delivery project in the U.S.

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.

blog comments powered by Disqus
Upcoming Events

©2014 Morningstar Advisor. All right reserved.