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San Diego County Water Authority asks Obama for $175 million for Carlsbad desal project

Posted by: Maven on December 25, 2008 at 8:29 am

From the North County Times:

Poseidon Resources Corp.’s proposed desalination plant would get its own economic stimulus, if a $175 million federal funding request from the San Diego County Water Authority is approved. Construction on the plant, which would convert sea water to drinking water for thousands of consumers, is scheduled to begin in mid-2009.

Meanwhile, a global credit crunch has made such projects difficult to finance. Officials at Poseidon, which hasn’t secured financing, say they are confident funding will be available by the middle of next year.

The Water Authority’s request for federal cash is included in a lengthy wish list county agencies submitted to the incoming administration. President-elect Barack Obama has said he intends to jump-start the faltering economy with massive public works projects.

Both Poseidon and the nine public agencies that have signed a 30-year contract for the desalinated water stand to benefit if federal funding is approved. The money would help pay for a pipeline and pumping station to deliver the desalinated water to the water system.

With the $175 million, Poseidon will break even on the desalination plant earlier than originally projected, said Scott Maloni, a vice president with the company. In turn, Poseidon would speed up the date when it begins sharing cost savings from desalinated water with customers.

Read more from the North County Times by clicking here.

December 25, 2008 · Filed Under Desalination

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