APRIL 2017 – As the largest privately financed water project to close in North America to date, Vista Ridge has received top honors on a global platform. The $927 million project will support the construction of a well field, pump stations, 142-mile water pipeline, and terminus site carried out by the Vista Ridge consortium led by Garney P3 with the construction contract executed by Garney Construction.
Vista Ridge was named North America Water Deal of the Year by IJGlobal and Project Finance International (PFI). Both organizations celebrate industry excellence on a global scale, with IJ Global recognizing the best in energy and infrastructure and PFI honoring project finance professionals. Garney accepted the awards on February 1 in London and March 15 in New York.
On April 24, Vista Ridge was awarded Water Deal of the Year by Global Water Intelligence (GWI) in Madrid, Spain. Vista Ridge was up against three impressive competitors: a desalinization plant in Aqaba, Jordan; a sea-water reverse osmosis plant in Oman; and, a water treatment plant in the Bulcan Province of the Philippines.
International attention on Vista Ridge developed when the original equity partner encountered financial difficulties and Garney stepped up to assume a leadership position. San Antonio is one of the fastest-growing cities in the nation. The Vista Ridge Regional Water Supply Project remains a critical project for helping San Antonio secure their water future. Vista Ridge will expand San Antonio’s water supply by 20 percent, decreasing pressure on the sensitive Edwards Aquifer, which is subject to federal, state, and regional pumping regulations.
Water supply is expected to flow by 2020, complementing SAWS’ continued conservation efforts and development of water resources as San Antonio adds an additional one million residents by 2040.
“Vista Ridge, Garney P3, and Garney Construction are all humbled by the international recognition associated with this momentous P3 project,” said Scott Parrish, Chief Operating Officer of Garney Construction. “We look forward to successfully delivering this project on time and on budget to do our part in helping secure San Antonio’s water future.”
Photo courtesy of PFI