Portsmouth Water, a portfolio company of Ancala Partners, an independent infrastructure investment manager focused on the European market, has made headway in developing the first major new water storage reservoir in the United Kingdom since the 1980s.
The company awarded a £167 million ($202 million) contract to Future Water MJJV to build the flagship Havant Thicket Reservoir and a £41 million ($50 million) contract to Ward & Burke Construction for a tunneled pipeline in the water-stressed region of southern Hampshire.
The reservoir development is enabled by a financial, regulatory and commercial partnership between Portsmouth Water and key project stakeholders.
A unique long-term bulk supply agreement was signed with neighboring water company Southern Water, with the support of Ofwat, the economic regulator for water companies in England and Wales, to enable the reliable delivery of 21 million liters of water each day.
In addition, Ancala is suppo