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Aqua Pennsylvania Reaches Agreement With East Whiteland Twp. to Purchase Municipal Wastewater Assets
January 13, 2021 GMT
BRYN MAWR, Pa. (BUSINESS WIRE) Jan 13, 2021
Essential Utilities Inc. (NYSE:WTRG) announced today that its Pennsylvania wastewater subsidiary has signed an asset purchase agreement with East Whiteland Township, Chester County to acquire the municipality’s wastewater assets for approximately $55 million. The pending transaction is subject to Pennsylvania Public Utility Commission approval.
East Whiteland Township’s wastewater system serves approximately 8,200 customer-equivalents including residential and commercial connections. The system is comprised of 57 miles of collection mains and 13 pump stations. The collection system accepts waste from the neighboring municipalities of Malvern Borough and Charlestown Township. Its waste passes through Aqua’s Valley Cre
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Essential Utilities Inc. (NYSE: WTRG) today announced its largest subsidiary, Aqua Pennsylvania, acquired the wastewater assets of New Garden Township, serving approximately 2,100 customer connections in southeast Pennsylvania’s Chester County.
“This purchase, like other wastewater systems we’ve purchased recently, is part of Aqua’s efforts to do its part to strengthen wastewater infrastructure for communities in the states we serve, which means improved service and environmental stewardship for generations to come,” said Essential CEO Christopher Franklin.
“We’re very pleased to welcome New Garden Township residential and business customers to the Aqua family and look forward to providing them the highest level of service and value,” said Aqua Pennsylvania Wastewater President Marc Lucca. “We hope more communities take advantage of the benefits the fair market value legislation can brin
LOWER MAKEFIELD Aqua Pennsylvania Wastewater has completed a good-faith payment of $3 million toward the purchase of the municipal wastewater system of Lower Makefield.
The company announced in September that it had signed an asset purchase agreement to acquire the municipalityâs wastewater assets for $53 million. The pending transaction is subject to Pennsylvania Public Utility Commission approval.
âThis good-faith deposit, will help Lower Makefield Township meet its 2021 budget obligations while the transaction makes its way through the regulatory approval process with the Public Utility Commission, said Aqua Pennsylvania Wastewaster President Marc Lucca.
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âIn addition to the assurance of reliable wastewater service provided by experienced licensed operators and engineering professionals, another benefit of this transaction is that the proceeds from the sale will enable the township to direct the funds to areas they identify as most in need,â
Aqua America Pennsylvania is $3 million closer to owning Lower Makefield s sewer system in a $53 million purchase.
The down payment is expected to help keep the township s 2021 budget stable as the sale awaits approval by the Pennsylvania Public Utility Commission sometime next year.
“This good-faith deposit will help Lower Makefield Township meet its 2021 budget obligations while the transaction makes its way through the regulatory approval process with the (commission), Aqua Pennsylvania Wastewater President Marc Lucca said last week.
Aqua Pennsylvania Wastewater is a subsidiary of Aqua America Pennsylvania.
Township officials voted 3-1 in August to approve the sale to help pay off a $17.8 million debt related to the township-owned golf course and raise Lower Makefield s Moody s bond rating that was downgraded in 2019.
Aqua Pennsylvania Wastewater announced today it has completed a good-faith payment of $3 million toward the purchase of the municipal wastewater system of Lower Makefield Township in Bucks County, Pennsylvania. The