Mojave groundwater bank: a decades-old water project finds new federal momentum
A funding agreement signed this week between Cadiz, Inc. and the US Bureau of Reclamation has put fresh attention on one of the American Southwest’s most contested water infrastructure proposals: the Mojave Groundwater Bank, a conjunctive-use groundwater storage project in southeastern California that has been seeking regulatory approval for nearly three decades.
Cadiz Signs Letter of Agreement with a Lead Investor for an Investment of up to $175 Million in Mojave Groundwater Bank Project
Under the terms of the LOA, the investor, a publicly traded company focused on investing in water infrastructure projects, will act as lead investor (the “Lead Investor”) in the newly formed MGSC, and will invest up to $175 million in the MGSC.