New York Stock Exchange-listed AquaVenture has extended the stop date on its proposed acquisition of a controlling stake in Teshie-Nungua desalination plant, Ghana.
The date to finalise a deal is now 31 December 2018, a three-month extension compared to the original target date of 30 September 2018.
The plant which began operating in 2015 was shut down and ceased producing water in January 2018, as it emerged that Ghana Water Company Limited was unable to keep up with payments under the 25-year water purchase agreement.
“We continue to make significant progress on this acquisition as we work towards a beneficial solution for all stakeholders. This extension demonstrates the commitment of all participants to complete this transaction. We look forward to becoming the long-term water partner to the Government of Ghana,” said AquaVenture chief executive Doug Brown.
Ghana regulator raps utility on desalinated water never delivered (September 2018)
AquaVenture poised to acquire Abengoa’s Accra desalination plant (February 2018)
Abengoa in talks aimed at re-opening Ghana desalination plant (February 2018)