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“After more than a decade spent talking about building a large-scale ocean desalination plant in Carlsbad, California, the private equity firm proposing to finance the project has one last hurdle to overcome: It needs someone to agree to buy the water.
Poseidon Resources has put forth several iterations over the years of its proposed plant in San Diego County, expected to produce up to 50 million gallons of freshwater daily. In one attempt, Poseidon inked agreements with local water agencies claiming it could sell water at no greater cost than imported water supplies.
But investors and members of the San Diego County Water Authority, both of whom Poseidon needs for support, balked at the claim and those agreements were scrapped.
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Read more: AlterNet
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