Consolidated Water Co Ltd

Consolidated Water has received a Limited Notice to Proceed from the Honolulu Board of Water Supply for its Kalaeloa seawater desalination project in Hawaii, releasing approximately $6 million in project funds for long-lead equipment procurement. The company also secured purchase orders totaling approximately $10.1 million from a Florida east coast municipality for nanofiltration membrane water treatment equipment and horizontal cartridge filters, marking the largest orders in its history for municipal membrane-based equipment and horizontal cartridge filters. The Kalaeloa facility is designed to produce 1.7 million gallons of potable water per day, with Consolidated Water contracted to operate and maintain it for 20 years plus two five-year extension options, though construction start remains pending due to permitting delays outside both parties' control. Delivery of the Florida equipment is scheduled for November 2027.

Consolidated Water has received a new 25-year exclusive retail water license for its Grand Cayman operations through its subsidiary Cayman Water Company Limited. The license, granted by the Utility Regulation and Competition Office of the Cayman Islands, takes effect August 1, 2026, and preserves Cayman Water's exclusive right to produce, distribute, and sell potable water in its licensed service area, which includes Seven Mile Beach and West Bay. Under the new terms, customers will see an approximately 6.5% reduction in the cost of water per gallon due to lower base water rates and energy cost recovery charges. The company estimates that if the new rates had been applied historically, revenues would have been lower by about $2.1 million in 2024, $1.9 million in 2025, and $0.6 million in the first quarter of 2026. The license arrives as Grand Cayman experiences strong tourism momentum, with March 2026 setting an all-time monthly record of 64,213 stayover visitors and total visitation reaching 221,731, up 12.6% year over year.