Consolidated Water (CWCO) reported that its wholly owned subsidiary, Kalaeloa Desalco, recently achieved a major milestone for its $204 million project to design, construct, operate and maintain a 1.7 million gallon per day seawater desalination plant in Hawaii. The Honolulu Board of Water Supply, the client for the multi-year project that commenced in June 2023, approved the pilot test reports and recommendations submitted by Kalaeloa Desalco. The Board concluded that the desalinated water the company produced during the piloting phase is a reasonable match to their existing water supply. They also concluded that the desalinated water from the new plant would not cause any detrimental impact to existing distribution pipes or customer assets. The Hawaiian project involves a two-year development phase, followed by two years of construction. Once completed and commissioned, the company has been contracted to operate the plant under a 20-year operations and maintenance agreement, plus two five-year extension options at the discretion of the client.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CWCO:
- Consolidated Water reports Q1 cont-op EPS 31c vs. 43c last year
- CWCO Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Consolidated Water’s Earnings Call: Mixed Sentiments and Future Growth
- Consolidated Water Reports 2024 Financial Results
- Consolidated Water reports FY24 EPS $1.77, two estimates $1.65
