Everything listed under: Awards & Accolades

  • Poseidon Water Named Energy Champion by SDG&E

    FOR IMMEDIATE RELEASE Contact: Jessica Jones (760) 655-3998   download a pdf
    Recognized for accomplishments in reducing energy consumption at the Carlsbad Desalination Facility

    Carlsbad, CA (July 11, 2016) - San Diego Gas & Electric (SDG&E) named Poseidon Water an “Energy Champion” for 2016. Poseidon was selected as the Water Energy Nexus Champion for their investments in, and commitment to, sustainability and energy efficiency at the Claude “Bud” Lewis Carlsbad Desalination Plant (the Plant).  Read more.

  • Carlsbad Desalination Plant Named International Plant of the Year for 2016

    FOR IMMEDIATE RELEASE Contact: Jessica Jones (760) 655-3998 download a pdf
    Global Water Award announced in the United Arab Emirates

    Carlsbad, CA – The Claude “Bud” Lewis Carlsbad Desalination Plant has been honored with a Global Water Award as the Desalination Plant of the Year for 2016 by Global Water Intelligence, publisher of periodicals for the international water industry. The award, announced this week at the Global Water Summit in Abu Dhabi, United Arab Emirates, goes to “the desalination plant, commissioned during 2015, that represents the most impressive technical or ecologically sustainable achievement in the industry.” Read more.

  • Poseidon’s Peter MacLaggan Named ‘Top 25 Newsmaker

    FOR IMMEDIATE RELEASE Contact: Jessica Jones (760) 655-3998 download a pdf
    Honor Bestowed by Engineering News Record Salutes the Industry’s Most Influential People

    San Diego, CA – Today, Poseidon announced that their Senior Vice President of Project Development for California has been named one of Engineering News Record’s (ENR) ‘Top 25 Newsmakers.’ Every year, ENR salutes influencers in construction by naming the Top 25 Newsmakers who have been the most influential in their respective roles. MacLaggan was recognized for his tenacity and patience in pushing for the successful construction of the largest seawater desalination plant in the Western hemisphere in Carlsbad, California.“I am deeply honored to be named one of ENR’s Top 25 Newsmakers along with the best and the brightest minds in the industry,” said Peter MacLaggan, Poseidon Senior Vice President. “The Carlsbad project took over a decade to come to fruition and was truly a team effort. I want to thank everyone who helped San Diego County residents achieve desalination as a new drought-proof reliable source of water from the Pacific Ocean for future generations to come.” Read more.

  • Poseidon Water Wins the Desalination Deal of the Year for the Carlsbad Project

    Global Water Intelligence has awarded Poseidon Water Desalination Deal of the Year for the Carlsbad Desal Plant. What makes it special?

    • The Carlsbad financing package marks the successful culmination of a decade of painstaking preparation and tremendous tenacity by Poseidon Resources. It proves beyond all doubt that with the right determination, large-scale desalination infrastructure in the US can be financed – even in California.
    • After indicating an average interest rate of 5.60%, propitious market conditions allowed the debt component of the deal to be priced at 4.78% – saving ratepayers an estimated $200 million in debt service costs over the lifetime of the bonds.
    • The water resourcing challenges of the arid Southwestern US require innovative financing solutions. The pioneering collaborative approach taken at Carlsbad will serve as a blueprint for the financing of other large-scale desalination projects across the southern US.

    Read the full article online at globalwaterawards.com.

  • North American Infrastructure Deal of the Year

    Infrastructure Investor Magazine has given it's North American Infrastructure Deal of the Year award to Poseidon Water for the Claude "Bud" Lewis Carlsbad Desalination Plant.
    "The $733.56 million issue of bonds for Poseidon Resources’ Carlsbad reverse osmosis desalination project took ten years to come to market. But it could serve as a useful template for applying PPP structures to water assets, particularly in ocean water desalination.The project, located in Carlsbad, California, had a long gestation because of the highly public nature of the project and what it will produce. Poseidon ultimately came to work with the San Diego County Water Authority, whose role as offtaker was the key to bringing the deal to close. Poseidon will own the plant, which will sell output to the water authority under a 30-year water purchase agreement (WPA), and the agency will own an associated pipeline, though the sponsor will be responsible for building it." Download the full article.

  • Largest U.S. Project Financing Deal of 2012

    Private Equity Purifies Pacific to Boost California Water

    After a decade of struggles to assuage environmentalists, raise almost $1 billion and win permits, Poseidon Resources Group will finally answer a critical question: Is converting seawater to drinking water a profitable venture in the U.S. when there are cheaper options? The developer of water infrastructure projects began site work last month on the Carlsbad desalination plant, the largest of its kind in the Western Hemisphere. When completed in 2016, the facility 33 miles (53 kilometers) north of San Diego each day will create 54 million gallons of drinking water after drawing it from the salty Pacific Ocean. Bankrolled by a $922 million JPMorgan Chase & Co.-led public-private bond offering -- the biggest U.S. project financing deal of 2012 -- Carlsbad’s chances of success are aided by a 30-year agreement with San Diego’s water authority to buy water from the plant. If successful, the project may become a model for how to ease a growing water crunch.Read the full article at ​bloomberg.com.