AquaVenture goes on shopping spree with Ghana and Bahamas desalination plants
AquaVenture has invested into desalination plants in Western African and the Bahamas in a bid to increase its project portfolio...
ACCRA, Ghana – US desalination company AquaVenture has invested into desalination plants in Western African and the Bahamas in a bid to increase its project portfolio.
In Africa, the company has agreed to purchase a majority interest in a seawater reverse osmosis (SWRO) desalination plant in Accra, Ghana for $26 million from Abengoa Water.
The plant has the capacity to deliver approximately 60,000 m3/day of potable water to Ghana Water Company Limited under a long-term, water purchase agreement.
AquaVenture’s first desalination plant in Africa, the Accra project has been operational since 2015 and supplies water to approximately 500,000 residents of Accra.
Completion of the purchase is expected to occur by the end of the second quarter of 2018.
It was in October 2016 when the company closed an initial public offering on the New York Stock Exchange, raising $117 million. The company’s business model has been to acquire existing thermal desalination facilities and upgrade them to membrane, reverse osmosis-based projects.
An agreement has also been reached by the company to purchase a SWRO desalination plant in Long Island, the Bahamas for a purchase price of approximately $3 million.
The plant has the capacity to deliver approximately 900 m3/day of potable water to the Water and Sewage Corporation of The Bahamas under a long-term water purchase agreement.
This deal is expected to close within the next two months, after satisfaction of customary closing conditions, including the approval of the Central Bank of The Bahamas.