Consolidated Water enters $149.6M design-build contract for Hawaii desalination facility

Consolidated Water Co. Ltd.

Contract with Honolulu Board of Water Supply for design, construction, and 20-year O&M of Kalaeloa Seawater Desalination Facility.
Design-Build Price set at $149.6M; includes $11.5M development fee paid upon milestones.
Water delivery guarantee of 1.7 million gallons per day (range 1.615-1.785 MGD) with liquidated damages for shortfalls.
Parent company CWCO guarantees subsidiary's obligations under a separate guaranty agreement dated June 2, 2023.
Contract may be renewed for two additional 5-year terms at BWS's option.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Consolidated Water Co. Ltd. entered into Service Agreement with The Board of Water Supply of the City and County of Honolulu, Hawaii (the “BWS”) valued at $149,648,118.00 (Design-Build Price) (effective 2023-06-02).

Action: entry
Agreement: supply
Counterparty: The Board of Water Supply of the City and County of Honolulu, Hawaii (the “BWS”)
Value: $149,648,118.00 (Design-Build Price)
Effective: 2023-06-02

Exact text from the filing

On June 2, 2023, Consolidated Water Co. Ltd. (the “Company”), through its indirect wholly-owned subsidiary, Kalaeloa Desalco LLC (“Kalaeloa Desalco”), entered into a service agreement (the “Agreement”) with The Board of Water Supply of the City and County of Honolulu, Hawaii (the “BWS”), relating to the design, construction, operation and maintenance of the Kalaeloa Seawater Desalination Facility in Oahu, Hawaii (the “Project”).

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Source: SEC EDGAR

accession 0001558370-23-010841

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