CARLSBAD, CA, Sept. 4, 2009 -- Poseidon Resources today announced it has reached an agreement with the California Coastal Commission that will ensure the timely construction of the Carlsbad Desalination Project (Project). Assembly Bill 1570 -- urgency legislation introduced this week by Assemblywoman Mary Salas and co-authored by the entire San Diego delegation to extend the Project's Coastal Development Permit (CDP) one year -- will be withdrawn and in exchange the Coastal Commission has agreed to process the permit before the November 15, 2009 deadline.
Poseidon was awarded its Coastal Development Permit almost two years ago on November 15, 2007. Coastal Commission staff citing budget cuts and employee furloughs expressed doubt that they could process the permit before the deadline. Fearing the permit might expire before it could be vested by Poseidon, the members of San Diego County's delegation unanimously authored Assembly Bill 1570, which would have extended the Project's Coastal Development Permit for one year.
"We are grateful for the tremendous leadership from Senator Kehoe, Assemblywoman Salas and our entire Sacramento delegation," said Poseidon Resources Senior Vice President Peter MacLaggan. "The urgency with which our elected officials addressed this potential problem is a reflection of the critical nature of the desalination project. We are also grateful to the Coastal Commission staff for agreeing to process our permit in a timely manner, which will ensure we can break ground in the coming months," said MacLaggan.
Since 1998, Poseidon Resources has been working in a public-private partnership with the City of Carlsbad to construct a 50-Million-Gallon-Per-Day (MGD) seawater desalination plant at the site of the Encina Power Station to provide a cost-certain, locally-controlled, drought-proof supply of water. Once operational, the Carlsbad desalination plant will provide enough drinking water to serve 300,000 residents annually at a guaranteed price and at no risk to taxpayers. The $300 million desalination project is scheduled to be operational in 2012.
Poseidon Resources specializes in developing and financing water infrastructure projects, primarily seawater desalination and water treatment plants. These projects are implemented through innovative public-private partnerships in which private enterprise assumes the developmental and financial risks. For more information on Poseidon Resources and the Carlsbad desalination plant, please visit our website at www.carlsbad-desal.com.
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