The Source: More Questions In SAWS Vista Ridge Deal

Last night, the San Antonio Water System (SAWS) held the first of four public meeting on the changes to the 142 -mile Vista Ridge Pipeline. The $3.4 billion deal, which covers 50,000 acre feet of water per year for 30 years, will have a change in ownership. Spanish Conglomerate Abengoa, struggling to pay its debts, had to sell 80 percent of its position in the deal. Garney Construction, which has worked with SAWS on several projects, has been selected as the company…

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One Vista Ridge Loan Application Approved; A Second Denied

In 2013 voters approved the State Water Implementation Fund for Texas, commonly referred to as SWIFT.  The fund provides highly sought-after low-interest loans for building water projects. Qualifying for a SWIFT loan can save utilities and taxpayers a lot of money. For example, a $140 million SWIFT loan approved for Tarrant County last year is expected to save rate payers there more than $39 million over the cost of a traditional market loan. The Texas Water Development Board recently considered…

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Vista Ridge Pipeline Opponents Win Small Victory

Opponents of the city of San Antonio’s Vista Ridge water supply project scored a minor win this week when Texas Water Development Board staff announced the 142-mile pipeline was ineligible to seek an $885 million low-interest construction loan. Abengoa Vista Ridge, the Spanish subsidiary company that San Antonio’s water utility contracted with in 2014 to build the pipeline, had agreed to finance construction and assume all financial risk if the project fell through. San Antonio Water System officials repeatedly cited…

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Vista Ridge Changes Before Council

The San Antonio City Council awaits details from SAWS on the changes with the Vista Ridge Project. SAWS officials are expected to detail the shift in project control from troubled Abengoa to Garney Construction. “I need to be assured that the contract that was entered into with Abengoa remains the same,” Councilman Ron Nirenberg told KTSA News. He’s talking about risk “that in fact we are still protecting the San Antonio taxpayer.” Councilman Mike Gallagher wants to make sure continuity exists……

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Council will leave pipeline deal changes to SAWS

The San Antonio Water System, not the City Council, will retain sole control over who will develop a massive water pipeline to eventually supply up to 20 percent of the city’s water. The issue came up in a Wednesday meeting of the San Antonio City Council’s governance committee seven weeks after District 8 Councilman Nirenberg filed a formal request for council members to vote on a plan to shift control of the project to a new investor. Nirenberg, Mayor Ivy…

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Mayor faces ethics complaint over pipeline, political contributions

A member of the Sierra Club’s Alamo Group has filed an ethics complaint against Mayor Ivy Taylor, alleging she inappropriately accepted campaign contributions from the owners of Pape-Dawson Engineers, who were involved in contract negotiations for the controversial Vista Ridge water pipeline. Gay Wright, a member of the group’s executive committee, filed the complaint Thursday alleging that Taylor violated the city’s ethics code by accepting contributions from political contributors who stand to gain financially from the Vista Ridge contract. The…

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Spain’s Abengoa SA Obtains Backing From Creditors To Evade Bankruptcy

Spanish energy company Abengoa SA (NASDAQ:ABGB) has obtained the support of about 75% of its lenders to reorganize its large debt and ask for additional time from the judiciary for negotiations targeted at preventing bankruptcy as per a document. The organization having a EUR9.4 billion ($10.5 billion) debt amount is in pre-solvency talks and would be Spain’s biggest ever bankruptcy if it doesn’t reach a compromise with lenders as well as bondholders. Abengoa has a deadline of March 28 to…

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Garney Construction Taking Over Vista Ridge Water Pipeline

Garney Construction Taking Over Vista Ridge Water Pipeline

  • March 25, 2016
  • News

Missouri-based Garney Construction is now the owner of the Vista Ridge water pipeline project after attorneys representing the construction firm, former owner Abengoa Vista Ridge, and other partners came to an agreement on Tuesday afternoon. Garney was already a construction partner but will now be in charge of operations, maintenance, and financing of the project. The announcement comes just days before the March 28 deadline for the subsidiary of Abengoa Sociedad Anónima, the Spanish renewable energy and engineering conglomerate that filed for protection from its…

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Abengoa is out, and Vista Ridge is stronger than ever

One of the two great ironies of the Vista Ridge saga is how Abengoa was supposed to bolster the controversial water project but instead became an albatross that threatened to doom the pipeline before it ever could be built. As a behemoth in clean energy technologies, building large-scale projects around the world, Spain-based Abengoa should have symbolized certainty and expertise. The name was supposed to mean something. Vista Ridge is a big project by any measure — $3.4 billion, 50,000…

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

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…

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