Consolidated Water owns a 43.5% equity interest in OC-BVI. The 700,000 US gallons per day desalination plant is located at Bar Bay, Tortola in the British Virgin Islands. Under the terms of the contract, OC-BVI must complete a storage reservoir on the Government site within 12 months and the Government is obligated to purchase at least 600,000 US gallons of water per day from the Bar Bay plant.
The Bar Bay Plant has been delivering water to the British Virgin IslandsGovernment since January 2009 under a Heads of Terms agreement which was signed between the parties in December 2008.
Rick McTaggart, president and chief executive officer of Consolidated Water Co said: “We are very pleased to announce that our BVI affiliate has formally contracted with the BVI Government for the purchase of water produced by its Bar Bay plant in Eastern Tortola. This signing, which marks the successful conclusion of a long negotiation process, demonstrates OC-BVI's commitment to provide a safe and reliable supply of potable water to the islands.”