Clearford Water Systems Inc., based in the Ottawa suburb of Kanata, and Signina Capital AG of Zurich, Switzerland, announced on January 14 a $100-million funding agreement that will see Signina cover 100 per cent of the capital costs associated with the installation of Clearford’s all-in-one wastewater collection and treatment system in Ontario municipalities.
Funding will be pursued via a Canadian special purpose corporation (SPC) for each different municipality, under the P3 model. Clearford will be the exclusive builder and operator on behalf of the SPC for the design, build, operation, and maintenance of its wastewater system. The SPCs will enter into 20 to 30 year contracts with each municipality, after which ownership will be transferred to the municipality.
“The funding agreement will offer Ontario communities a cost effective new choice for their wastewater collection and treatment requirements,” said Clearford president and CEO Kevin Loiselle. “The services contract will provide for complete sewage services for the duration of a term of up to 30 years, and the municipality will benefit from ownership of the system at the end of the term.”