With this signed agreement, Camino Real Utility, a wholly owned subsidiary of BVRT, begins work to bring potable water for future growth to the Mustang Ridge area.
SAN ANTONIO, August 23, 2022 /PRNewswire/ — BVRT Utility Holding Company (BVRT) today announced that Camino Real Utility (Real Path), 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 the water resources of ten counties.
The GBRA water supply agreement involves four buyers, including Real Pathand plans to extend a drinking water pipe from the Town of Lockhart to the town of Mustang Ridge and surrounding areas. Under the terms of the agreement with GBRA, in the initial phase of the project, Real Path will receive up to 2,419 acre-feet of potable water per year, enough for approximately 6,000 new homes. Future phases should bring additional water every five years. Real Pathwhich has already begun engineering and construction of a regional water resource reclamation and reuse system for Mustang Ridge, will be the drinking water utility provider for the new development in this rapidly growing area to the south from Austin Bergstrom Airport.
Real Path will invest more $60 million bring drinking water to Mustang Ridge, including $43.5 million to GBRA for the pipeline and $20 million for the local water distribution network. Of the four pipeline project buyers, Real Path is the only investor-owned utility participating in the project, making it the largest public-private partnership that GBRA has undertaken to date
By partnering with Real Path, the City of Mustang Ridge has facilitated the means to provide essential public services in a safe, reliable and affordable manner without the city having to make the capital investment or assume the risk. “The City of Mustang Ridge is pleased to partner with BVRT to bring essential public services to our city and surrounding communities, providing services was a necessity for growth but would have been difficult to achieve without the hard work and investment from BVRT. We would like to thank BVRT and welcome Camino Real Utilities to our community,” said the Mayor of Mustang Ridge David Bun.
“This represents an important step for BVRT and Real Path. Since we began our journey in 2013, we have strived to improve the quality of life in our service areas and communities. This new partnership with GBRA will enable us to have an even greater positive impact on the local community and region,” said BVRT Managing Director, Steven Greenberg.
About BVRT Utility Holding Company
The BVR is a San Antonio, TX-utility development company that owns and operates six water resource reclamation utilities that serve growing communities outside of Austin and San Antonio. The Company focuses on green land developments and public-private partnerships with emerging communities. He actively and aggressively pursues other opportunities to build and improve water and wastewater infrastructure in all areas of the Texas Triangle.
BVRT’s investment is made possible thanks to the support 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 building its water and wastewater infrastructure.
SOURCE BVRT Public service holding company