Abengoa clinches controversial Texas PPP deal

The Spanish firm has signed a multi-billion dollar water supply contract with the city of San Antonio, landing its first PPP deal in the United States. The project’s unique risk profile threatens to throw a spanner in the works.

 San Antonio’s city council has finally approved the award of a long-awaited and controversial groundwater transfer project to an Abengoa-led consortium, as the state of Texas faces a perfect storm of crippling drought and massive increases in municipal and industrial water needs.

The $3.4 billion, 30-year agreement signed between the city and Abengoa Vista Ridge, a consortium led...

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