Carlsbad Desalination Project named "Deal of the Year"

Sponsored by


HOUSTON, TX, Dec. 7, 2013 -- The Carlsbad Desalination Project in Carlsbad, Calif., a $1 billion project financing implementing a public-private partnership (PPP) between Poseidon Resources and the San Diego County Water Authority, was recently named the 2013 Deal of the Year.

The tribute, awarded by The Bond Buyer, serves to recognize the Far West Region to the California Pollution Control Financing Authority for its role as issuer for the debt portion of project. Further, it recognizes innovation in municipal finance.

Clean Energy Capital served as financial advisor to the Water Authority and acted as lead arranger on the transaction. The project is the culmination of a decade of development effort and is the first large-scale ocean-water desalination project on the Pacific coast. The transaction features a 30-year water purchase agreement between the Water Authority and Poseidon that allows the Water Authority to transfer certain key risks to Poseidon, while supporting project financing at the investment-grade level.

The capital structure includes $756 million tax-exempt bonds issued by the CPCFA on behalf of Poseidon and the Water Authority, $167 million of private equity, and $80 million in improvements to be made by the Water Authority to accommodate this new supply of water. The bond underwriting syndicate was led by JP Morgan.

About Clean Energy Capital

Clean Energy Capital provides investment banking and financial advisory services to participants in the energy and infrastructure sectors. Our core focus is project financing of energy and infrastructure assets, and support of companies engaged in project finance. For more information about our company, please visit our website at www.cleanenergycap.com.

###

Sponsored by

TODAY'S HEADLINES

Large-scale TX water distribution project to receive major pipe supply

Section 15-1 of the Integrated Pipeline Project will receive 81,958 feet of 108-inch diameter, cement mortar-lined and polyurethane-coated, spiral-welded steel pipe.

Michigan State University receives Biogas Project of the Year Award for anaerobic digester

Michigan State University has received a Project of the Year Award from the American Biogas Council for its South Campus Anaerobic Digester.

Partnership to deliver advanced solutions for groundwater resources

A new partnership has recently been formed to provide solutions focused on better acquisition, modeling and characterization of groundwater resources.

Flooded Argentina oil refinery receives restoration with dewatering pumps

A recently-flooded oil refinery outide the city of La Plata in Argentina has been restored thanks to the application of specialized dewatering pumps from Xylem.

FOLLOW US ON SOCIAL MEDIA