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Gaza desalination backers pass finance tipping point

Procurement of the desperately needed 150,000m3/d Gaza desalination facility will begin soon, after the European Commission confirmed that more than 80% of the required financing had been secured from the group of donors it is leading.

Commissioner Johannes Hahn said 14 countries and institutions had among then committed €456 million, with several more potentially...

Massachusetts bill could unlock water P3s

A $1.4 billion environmental bond bill introduced in Massachusetts late last week includes language designed to unlock water infrastructure P3s in the state.

Lodged among the funding allocations in H.4318 – which includes $60 million specifically earmarked for the Massachusetts Clean Water Trust – is a regulatory framework that outlines a process for...

Ancala strikes again as UK water portfolio grows

Ancala Partners has clinched its second UK water acquisition within a month, after agreeing last week to buy Kelda Water Services’ long-term contract with the Ministry of Defence.

The purchase of the KWS subsidiary that operates the MoD contract – for an undisclosed sum – follows an agreement Ancala struck in February to acquire Portsmouth Water from...

IFM seals the deal to acquire 49% of FCC Aqualia

Australian infrastructure fund IFM has agreed terms for the acquisition of 49% of FCC’s water subsidiary Aqualia for €1.024 billion, putting an equity value of €2.09 billion on the company, which posted EBITDA of €241.5 million on revenues of €1.03 billion in 2017.

The operation, which is subject to regulatory approvals, “provides us with...

Global plastics JV set to buy Texas desal plant

Plans to develop a merchant seawater desalination facility on the Texas coast took a step backwards this week, after a joint venture of petrochemicals firms Alpek (Mexico), Indorama (Thailand) and Far Eastern Investment (Taiwan) successfully bid $1.125 billion for a plastics manufacturing facility and captive 34,068m3/d reverse osmosis plant in Corpus Christi.

Project...

Yorkshire Water continues liability management spree

The Universities Superannuation Scheme has acquired a further £51.2 million of bonds from the special purpose vehicle that Yorkshire Water set up to manage liabilities relating to its portfolio of inflation-linked swaps – which had a negative mark-to-market value of £2.6 billion in March 2016.

Notes issued by the Aysgarth Finance SPV transfer the...