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Poseidon Resources selects Barclays capital as financial advisor for the Carlsbad desalination project

Posted by: Aqua Blog Maven on June 18, 2009 at 7:48 am

From Poseidon Resources, this press release:

Carlsbad, CA – Poseidon Resources announced today that it has selected Barclays Capital (NYSE: BCS) as its financial advisor in connection with the financing of its 50 million gallon per day (MGD) reverse osmosis seawater desalination plant in Carlsbad, California.

After spending seven years permitting the project, the announcement marks the start of the process to finance the pioneer water supply project.

As financial advisor, Barclays Capital, the investment banking division of Barclays Bank PLC, will provide Poseidon with a fully integrated, seamless solution to execute the construction and term financing of the project’s $300-plus million capital investment and associated closing, construction and startup period costs. Over the coming months, Barclays Capital will be coordinating development of independent technical reports, rating agency presentations, and execution of the debt financing.

“We are pleased that we have a strong and internationally respected financial institution like Barclays Capital advising us on the project during these extraordinary times,” said Andrew Kingman, Poseidon Resource’s Chief Financial Officer.

Poseidon Resources specializes in developing and financing water infrastructure projects, primarily seawater desalination and water treatment plants. These projects are implemented through innovative public-private partnerships in which private enterprise assumes the developmental and financial risks. For more information on Poseidon Resources and the Carlsbad desalination plant, please visit our website at www.carlsbad-desal.com.

June 18, 2009 · Filed Under Poseidon's Carlsbad Plant

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One Response to “Poseidon Resources selects Barclays capital as financial advisor for the Carlsbad desalination project”

  1. Poseidon Resources selects Barclays capital as financial advisor … | Distressed Marketplace on June 24th, 2009 11:53 am

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