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December 3, 2012
SAN DIEGO (AP) — A regional water agency has approved a contract to buy the entire output of what would be the Western Hemisphere's largest seawater desalination plant, clearing the way for construction to begin early next year.
The San Diego County Water Authority board backed the 30-year deal with Poseidon Resources LLC, which needed it to sell investors on bonds that will finance more than 80 percent of construction of the $984 million project. The plant in Carlsbad is designed to produce 50 million gallons of highly purified drinking water a day, enough to supply about 8 percent of the region in 2020.
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