Consolidated Water cannot reach agreement with the BVI
Consolidated Water (CWCO) could drop 50% if it cannot reach an agreement with its leading customer, the British Virgin Islands. Being the owner of water utilities in the Caribbean area, CWCO is fighting the BVI government over payments for water from a desalination plant.
British Virgin Islands is attempting to purchase the plant, which removes salts from sea water, but the discussions have continued on over a decade. Now Consolidated Water is continuing to record the full amount it is billing British Virgin Islands as revenue, and its receivables are rising.