Pipeline builder, through nonprofit, seeks $885 million state loan

  • March 11, 2016
  • News

The company contracted to build a pipeline for the San Antonio Water System has applied for an $885 million low-interest state loan to finance the project.

SAWS officials have often said in public meetings and interviews that financing for the 142-mile pipeline that would deliver up to 16.3 billion gallons per year to San Antonio from Burleson County would come from bonds sold by Abengoa Vista Ridge.

But on Feb. 5, Abengoa Vista Ridge, through its affiliated nonprofit, submitted the loan application to the Texas Water Development Board for the State Water Implementation Fund for Texas, or SWIFT, over four years: $380 million in 2016, $350 million in 2017, $100 million in 2018 and $55 million in 2019.