Essential Utilities to invest $10 million in Pennsylvania water system with $18 million acquisition
(UI) – Essential Utilities announced its Aqua Pennsylvania subsidiary signed a purchase agreement to acquire the water system in Greenville, PA for $18 million.
The water treatment plant and distribution system are currently operated by the Greenville Municipal Water Authority. The system consists of 40 miles of main line in Greenville, Hempfield Township and West Salem Township with nearly 3,000 service connections.
“Although the system is in relatively good condition, we’re not poised to meet new and evolving regulatory and environmental requirements in the years ahead,” said Greenville Municipal Authority Board Chair Tom Strahler. “We need to plan ahead and ensure the system is in capable hands for the long term. We knew Aqua – a trusted and professional partner – could manage the required upgrades and operate the system safely and effectively for years to come.”
The transaction builds on Essential’s strategy to invest in system operations, employees and infrastructure that deliver clean, safe, reliable natural resources to residential and business customers, including water and wastewater services, with a focus on positively impacting the environment.
Essential plans to invest more than $10 million in the water system within the next 10 years to meet regulatory, environmental and cybersecurity demands. All Greenville Municipal Authority employees will be offered employment at Aqua, pending the company’s standard hiring practices.
The Greenville water system is the second purchase agreement to be signed by Aqua Pennsylvania this year, following the announcement to acquire Greenville’s wastewater system in May. Including Greenville water, Essential’s Aqua companies have signed five purchase agreements for water and wastewater systems.
Together, these systems represent over 211,000 equivalent retail customers or equivalent dwelling units with nearly $354 million in purchase price. So far in 2023, the company has acquired seven water and wastewater systems, adding more than 11,000 new customers or equivalent dwelling units to the company’s footprint.
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