Ridgewood Infrastructure LLC and IDE Technologies, LTD have announced the closing of a public-private partnership (P3) with the City of Fort Lauderdale, Florida, to design, build and operate a new 50 million gallons per day water treatment plant – the Prospect Lake Clean Water Center.
“We are excited to partner with the City of Fort Lauderdale to provide clean and clear fresh water to the community for decades to come,” said Michael Albrecht, Managing Partner of Ridgewood. “The Prospect Lake Clean Water Center is designed with a focus on sustainability, using state-of-the-art nano-filtration and ion exchange technology.”
This new facility will be replacing the Ft. Lauderdale’s Fiveash Regional Water Treatment Plant, which is nearing the end of its useful life. The Prospect Lake Clean Water Center will be operated in partnership by IDE and the City of Fort Lauderdale.
Ross Posner, Managing Partner of Ridgewood Infrastructure said: “We are thrilled to be partnered both with Fort Lauderdale and IDE, and to have the opportunity to support the modernization of this community’s critical water infrastructure.” Posner added: “Ridgewood’s approach to this public private partnership embodies the spirit of multiple stakeholders working together to benefit the people of Fort Lauderdale.”
Ridgewood Infrastructure is an infrastructure investor in the U.S. lower middle market with sectors of focus including water, energy transition, transportation and utilities. For more information, please visit ridgewoodinfrastructure.com.
IDE Technologies is a provider of advanced water treatment solutions, widely recognized for its work in desalination and water treatment having introduced many technologies to the market. IDE’s track record spans over 400 plants in 40 countries across more than four decades. IDE delivers nearly 800 million gallons per day of high-quality water to its partners across the globe.
