Recent Updates — CWCO
Consolidated Water Co. Ltd. updated the permitting and construction schedule for its Kalaeloa seawater reverse osmosis desalination project on Oahu, Hawaii. The company received approvals from the State Historic Preservation Division and the Hawaii Department of Health but still requires a Memorandum of Agreement. Consequently, Consolidated Water now expects construction to begin in the first half of 2027, shifting from its previous expectation of late 2026. The Honolulu Board of Water Supply granted schedule extensions to reflect these permitting delays. In July 2026, the board issued a limited notice to proceed for approximately $6 million to procure long-lead equipment early. The facility is designed to produce 1.7 million gallons of potable water per day under a contract that includes a 20-year operating term with extension options. Consolidated Water Co. Ltd. develops and operates advanced water treatment plants and water distribution systems.
PERC Water, a U.S. subsidiary of Consolidated Water Co. Ltd., entered into a fixed-price design-build agreement with the City of Pismo Beach, California, valued at approximately $39.8 million. The project involves designing and constructing the Central Coast Blue Advanced Water Purification Facility to produce 500 acre-feet of purified water annually in its initial phase, with provisions for future expansion to 750 acre-feet. Substantial completion is targeted by September 17, 2028, subject to a 703-day schedule from the October 15, 2026 kick-off date. The company develops and operates advanced water treatment plants and distribution systems globally.
Consolidated Water Co. Ltd. reported second quarter 2026 results with total revenue of $32.9 million, a 2% decrease from the prior year period. Net income attributable to stockholders was $4.0 million, or $0.25 per diluted share, compared to $5.2 million, or $0.32 per diluted share, in Q2 2025. The decline was driven by a 49% drop in manufacturing revenue to $2.7 million due to fewer new purchase orders, partially offset by a 20% increase in bulk revenue to $9.9 million from higher energy pass-through charges and new Cat Island plants. The company also announced the receipt of a 25-year exclusive water concession for Grand Cayman and an executive appointment. Consolidated Water Co. Ltd. operates as a designer, builder, and operator of advanced water treatment and desalination plants.
Consolidated Water Co. Ltd. received a Limited Notice to Proceed for its Kalaeloa seawater desalination facility in Hawaii, authorizing approximately $6 million for long-lead equipment procurement. Additionally, the company secured purchase orders totaling approximately $10.1 million from a municipality on Florida's east coast for water treatment equipment. Consolidated Water Co. Ltd. designs, builds, operates, and maintains advanced water treatment plants and water distribution systems.
At the Annual General Meeting on June 1, 2026, shareholders approved amendments to the company's Memorandum and Articles of Association to increase authorized share capital from CI$12.5 million to CI$25 million. This increase in authorized shares includes 49,800,000 Ordinary Shares of par value CI$0.50 each and 200,000 Redeemable Preference Shares. The amendments, which include new authority for the Company to purchase its own shares, also became effective upon filing with the Cayman Islands Registrar of Companies on June 30, 2026. Consolidated Water Co. Ltd. provides water utility and desalination-related services.
On June 18, 2026, the Utility Regulation and Competition Office (OfReg) approved a new 25-year license for Consolidated Water's subsidiary, Cayman Water, effective August 1, 2026. The license grants exclusive rights to produce and distribute potable water in the Seven Mile Beach and West Bay areas of Grand Cayman. It establishes new base rates, including CI$16.23 per 1,000 gallons for residential consumption up to 3,000 gallons and CI$19.90 for commercial consumption up to 3,000 gallons. Pro forma estimates suggest the new rate structure would have reduced revenues by approximately $2.1 million in 2024, $1.9 million in 2025, and $0.6 million in Q1 2026 compared to the prior structure. The company operates in the utility industry, providing water production and distribution services.