The scheme is one of four treatment plants that have been acquired by NI Water from Kelda Water Services (KWS).
Parent company Kelda Water decided to put the non-regulated businesses of KWS up for sale, and NI Water has now agreed a deal to acquire KWS’s stakes in four treatment plants, including the Alpha PPP scheme.
Project Alpha was signed in May 2006 between Dalriada Water, which included Kelda Group, and Northern Ireland Water Service. The deal £154m was to run for 25 years.
“This brings back into NI Water ownership all clean water production in Northern Ireland,” said NI Water chairman Len O’ Hagan. “This represents a strong fit with NI Water’s strategy to provide clean safe drinking water to our customers and to do so in a way that secures efficiencies for our customers and for the public purse.”
NI Water has paid a consideration of £28m to acquire all of the equity in the project from KWS and will also assume responsibility for associated debt finance.