BVRT Utility Holding Company (BVRT) Subsidiary Enters into Long-Term Water Supply Agreement, Bringing Water to the City of Mustang Ridge, Near Austin, Texas
With this Agreement executed, Camino Real Utility, a wholly owned subsidiary of BVRT, begins work to bring potable water for the future growth of the Mustang Ridge area.
SAN ANTONIO, TX.— BVRT Utility Holding Company (BVRT) announced today that Camino Real Utility (Camino Real), a wholly owned subsidiary of BVRT, has entered into a long-term water supply agreement with the Guadalupe Blanco River Authority (GBRA), a water conservation and reclamation district established by the Texas Legislature that oversees water resources for ten counties.
The GBRA water supply agreement involves four off-takers, including Camino Real, and plans to extend a potable water pipeline from the City of Lockhart to the City of Mustang Ridge and surrounding areas. Under the agreement with GBRA, in the project’s initial phase, Camino Real will receive up to 2,419 acre-feet of potable water annually, enough for approximately 6,000 new homes. Future phases are expected to bring additional water every five years. Camino Real, which has already begun engineering and construction for a regional water resource recovery and reuse system for Mustang Ridge, will be the potable water utility service provider for new development in this fast-growing area south of the Austin Bergstrom Airport.
Camino Real will invest over $60 million to bring potable water to Mustang Ridge, including $43.5 million to GBRA for the pipeline and $20 million for the local water distribution system. Of the four off-takers in the pipeline project, Camino Real is the only investor-owned utility participating in the project. This is the largest public-private partnership that GBRA has undertaken to date.
By partnering with Camino Real, the City of Mustang Ridge has facilitated the means to safely, reliably, and affordably provide essential utility services without the City having to make the capital investments or take on the risk. “The City of Mustang Ridge is happy to partner with BVRT in bringing essential utilities to our city and the surrounding communities, providing services was a necessity for growth but would have been difficult to achieve without the hard work and investment by BVRT. We would like to thank BVRT and welcome Camino Real Utilities to our community,” said Mustang Ridge Mayor David Bunn.
“This represents a milestone for BVRT and Camino Real. Since we began our journey in 2013, we have endeavored to enhance the quality of life in our service areas and communities. This new partnership with GBRA will enable us to make an even greater positive impact on the local community and region,” said BVRT’s Chief Executive Officer, Steven Greenberg.
About BVRT Utility Holding Company
BVRT is a San Antonio, Texas-based utility development company that owns and operates six water resource recovery utilities that serve growing communities outside of Austin and San Antonio. The Company focuses on green field developments and public-private partnerships with emerging communities. It is actively and energetically pursuing additional opportunities to build and enhance water and wastewater infrastructure in all areas of the Texas Triangle.
BVRT’s investment is made possible through the backing of its majority investor, Texas Water Service, which is a subsidiary of California Water Service Group. Texas Water Service is investing funds to enable BVRT to continue to build its water and wastewater infrastructure.