White & Case advises Ridgewood Infrastructure and IDE Technologies on novel public-private partnership in US water sector

Press Release
1 min read

Global law firm White & Case LLP has advised Ridgewood Infrastructure, an infrastructure investor focused on the US middle market, and IDE Technologies, a world leader in water treatment solutions, in the development of a state-of-the-art membrane-based water treatment facility in the City of Fort Lauderdale, Florida.

The project will use nanofiltration and ion exchange technology to treat the water and deploys a novel approach to financing public-private partnerships in the US water sector where many water assets are in dire need of modernization and improved resilience.

The facility will be able to withstand a Category 5 hurricane, and is expected to be completed by October 2026. Kiewit Water Facilities Florida Co. will build the plant together with an affiliate of the IDE group and another affiliate of the IDE group will manage and maintain the plant for 30 years. In a first-of-a-kind approach to financing US public private partnerships, the equity investors will fund 25% of the project costs while the City of Fort Lauderdale will combine the risk transfer to their private partners for delivery and long-term maintenance of the project with low cost financing raised separately by the City to fund 75% of the project costs.

The White & Case team included partners Dolly Mirchandani, Ray Azar, Matthew Hendy and Evelyn Balassiano, associates Gabrielle Goodrow, Andrew Fernandez, Patrick Blake, Yuxi Wang and Nasir Tak and international law clerk Adam Conwell.

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