City of Carlsbad Initiates Environmental Study on Public-Private Desalination Project at Encina Power Plant
Poseidon Resources issued the following statement in response to the Carlsbad City Council's decision to initiate the Environmental Impact Report (EIR) for a desalination project at the Encina power plant:

Yesterday's unanimous vote by the Carlsbad City Council to move forward with an Environmental Impact Report (EIR) for a desalination project at the Encina power plant is the next step towards achieving the city's goal of securing a locally-controlled, cost-certain supply of potable water.

Additionally, a Poseidon-City of Carlsbad desalination project provides for significant public benefit including local land-use control over the project site, approximately $2.4 million in annual property tax revenue, up to $2.9 million in annual impact on the local economy and long-term savings on water purchases.

Poseidon and Cabrillo Power are committed to develop the desalination project in a manner that will maximize public access to the beach, lagoon and open space and recreational opportunities. The facility will improve water reliability and quality.

Poseidon's Carlsbad plant will provide up to 50 million gallons of water per day at a guaranteed price, while protecting the City of Carlsbad and taxpayers from financial risk. This public-private model is a proven means to offer a solution to one of Carlsbad's, and the San Diego region's, most long-standing challenges - water reliability.

Poseidon Resources specializes in developing and financing water projects, primarily seawater desalination and water treatment plants. These projects are completed through innovative partnerships in which private enterprise assumes the developmental and financial risks. It is ranked among the top 10 water infrastructure developers in the world and is headquartered in Stamford, CT. For more information on Poseidon Resources visit our website at http://www.poseidonresources.com.