Cadiz (CDZI) has signed a memorandum of understanding with the Central Arizona Irrigation and Drainage District to supply up to 10,000 acre-feet of water annually from its Mojave Groundwater Bank in California, according to a Thursday joint statement.
The proposed 50-year agreement includes renewal options and initial pricing of a volumetric charge of $850 per acre-foot per year, plus other costs and a capital charge for dedicated pipeline capacity, the company and the water district said.
The agreement would provide supplemental water supplies through an interstate exchange of Colorado River water, subject to off-take agreements, pipeline construction and regulatory review, they said.
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