Orion Water Partners LLC is poised to sell the Claude "Bud" Lewis Carlsbad Desalination Plant in Southern California for more than $1 billion, Bloomberg News reported, citing people familiar with the matter.
The buyer is an affiliate of Aberdeen Standard Investments Inc.
Developed as a public-private partnership and named after a former mayor, the Carlsbad desalination plant delivers approximately 50 million gallons of fresh water daily in San Diego County. The plant's capacity is expected to increase to 60 million gallons once local authorities approve the construction of a stand-alone pumping station and a new intake structure, Bloomberg noted.
Orion Water Partners is a joint venture between Stonepeak Infrastructure Partners, formally known as Stonepeak Partners LP, and Poseidon Water LLC. Poseidon is an affiliate of Brookfield Infrastructure Partners LP.
Representatives for Stonepeak, Brookfield, Poseidon and Aberdeen did not comment on the matter, according to Bloomberg.