Posted: August 17, 2022
California Water Service Group Subsidiary Texas Water, Majority Investor of BVRT Utility Holding Company, Grows Investment in Lone Star State
California Water Service Group (Group) announced today that Camino Real Utility (Camino Real), a wholly owned subsidiary of BVRT Utility Holding Company (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 water resources for 10 counties.
Under the terms of the agreement with GBRA, Camino Real will receive up to 2,419 acre-feet of potable water annually. The GBRA agreement involves four off-takers, including Camino Real, and GBRA plans to extend a potable water pipeline from the City of Lockhart to the City of Mustang Ridge and surrounding areas. Camino Real will be the utility service provider in this fast-growing area of the Austin metropolitan region and will provide potable water, recycled water, and wastewater services to portions of the City of Mustang Ridge and surrounding areas. GBRA plans to extend a water supply pipeline from Lockhart, Texas, into the Mustang Ridge area. Camino Real will invest over $40 million in capital in the first phase of the water supply pipeline project as one of four off-takers.
Group subsidiary, Texas Water, is the majority equity investor in BVRT, a Texas-based utility development company owning and operating six wastewater utilities that serve growing communities outside of Austin and San Antonio.
“We are pleased to be growing our investment in Texas, in a dynamic area with considerable opportunities for growth,” said Martin A. Kropelnicki, Group President and Chief Executive Officer.
Texas Water is investing funds to enable BVRT to continue to build its water and wastewater infrastructure. The company is actively and aggressively pursuing additional opportunities to build and enhance water and wastewater infrastructure.
“BVRT is an excellent partner with key strategic relationships in this growing part of Texas. Our Texas Water Service team looks forward to working with BVRT to provide more people with the reliable utility services that are vital to every community’s success,” Kropelnicki said.