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Desalination plant honored for marking significant step forward for the water industry
IDE Technologies Ltd. announced that the financing package for the Carlsbad desalination plant in California has been named winner of the 2013 Global Water Awards ‘Desalination Deal of the Year’ category. The deal was honored for representing a significant step forward for the water industry in terms of financial innovation and in meeting the demands of challenging circumstances.
Each year, the Global Water Awards acknowledge the most important achievements in the international water industry across several categories, among them ‘Desalination Deal of the Year’ and ‘Desalination Company of the Year,’ which IDE won in 2011.
The Carlsbad project will be the largest seawater desalination plant in the western hemisphere upon completion. IDE will be involved in the design and supply of equipment for the plant, as well as the operation and maintenance for 30 years. The plant is expected to produce up to 54 million gal (204,412 m3) of high quality water per day by 2016.
Global Water Intelligence (GWI) magazine cited that “the Carlsbad financing package proves beyond all doubt that with the right determination, large-scale desalination infrastructure in the U.S. can be financed.” In addition, GWI cited that “the pioneering collaborative approach taken at Carlsbad will serve as a blueprint for the financing of other large-scale desalination projects across the southern U.S.”
This award follows the ‘North American Water Deal of the Year’ prize by the Project Finance magazine, reinforcing the project’s significance as a game changer in the U.S. and worldwide.