Texas Water Development Board Approves $535M Financing for Corpus Christi Inner Harbor Seawater Desalination Plant

CORPUS CHRISTI, TX - The Texas Water Development Board (TWBD) approved the City of Corpus Christi's application for $535,110,000 in multi-year financing through the 2024 State Water Implementation Fund for Texas (SWIFT) program. Funds will be used for planning, acquisition, design, and construction of the City's Inner Harbor Seawater Desalination Plant. In a unanimous decision, the State of Texas's top water agency voted in support of Corpus Christi's Inner Harbor Desalination Plant, which is set to begin its design phase by the end of the year.

In February 2024, the City submitted an abridged application to TWDB for the remaining projected funding. The City's abridged application received the second-highest score out of 20 applications from around the state. The City was then invited to submit a full application.

In the upcoming months, the TWDB will proceed with the bond sale, set interest rates, and formalize financing agreements with the City.

For more information on the Inner Harbor Seawater Desalination Plant, visit www.desal.cctexas.com.

About Corpus Christi Water

For more than 130 years, the City of Corpus Christi has been vital as the water supplier for the region. Our commitment to 500,000 residents across the Coastal Bend is to plan, produce, and deliver water that is affordable, drought-proof, sustainable, and reliable.