WASHINGTON, June 19, 2014 /PRNewswire/ -- Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), an international company that applies innovative technology solutions for sustainability in the energy and environmental sectors, has proposed a solution deemed by the San Antonio Water System (SAWS) as the only responsive proposal for a new water supply project for the city of San Antonio, TX.
The Vista Ridge Consortium, led by Abengoa, has secured rights to 50,000 acre-feet of water per year in Burleson County, northeast of Austin. The Consortium has proposed to design, construct, and finance a well-field, the required pumping stations, a water treatment plant and a 140-mile pipeline to the city of San Antonio to deliver the new water supply.
The project would provide San Antonio with an additional 20 percent of its annual demand. This new water supply would help the city of San Antonio, which has a population of 1.4 million and an annual growth rate of 1.8 percent.
Abengoa has been responsive to SAWS' concerns and has agreed to assume complete delivery risk, including all components of regulatory, technical, and financial risk at a fixed price for the 30-year duration of this project. "The major hurdles and objections to the original proposal from Vista Ridge are being overcome, and we can now take the next step towards securing the largest non-Edwards supply in our city's history," said Robert R. Puente, SAWS President and CEO, in a SAWS press release.
Manuel Sanchez, CEO of Abengoa commented: "Abengoa welcomes the opportunity to partner with SAWS in this historic opportunity that would help San Antonio's long-term water supply and ensure the city's economic vitality."
About Abengoa
Abengoa (MCE: ABG.B/P SM /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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SOURCE Abengoa