Murray-Darling Water Recycling & Resilience Platform
Advanced water recycling network securing irrigation and municipal supply across a chronically drought-exposed basin.
Executive Summary
Development of three advanced water-recycling plants and a 210km distribution backbone serving irrigation districts and municipal utilities across the Murray-Darling Basin. The platform converts treated wastewater and stormwater into potable-grade and agricultural-grade supply, reducing basin extraction pressure amid worsening multi-year drought cycles.
Investment Thesis
- Basin allocations have been cut 34% over the past decade; recycled supply is the only scalable near-term substitute.
- 20-year take-or-pay offtake with three irrigation cooperatives and two municipal water authorities.
- State government co-funding grant covers 18% of capex, de-risking the capital stack.
Use of Funds
Financial Snapshot
Transaction Structure
USD 140M senior debt (infrastructure bank club), USD 40M subordinated debt open via Deal Room.
Risk & Mitigation
- · Rainfall variability affecting raw feed volumes
- · Construction sequencing across three sites
- · Regulatory tariff-setting risk
- Dual-source feedwater (wastewater + stormwater) smooths seasonal variability
- Staggered EPC milestones with liquidated damages
- Tariff formula pre-approved by state economic regulator
Timeline & Milestones
- 2025 Q1State approvals & environmental clearance
- 2025 Q3Offtake agreements executed
- 2026 Q1Senior debt club committed
- 2026 Q4Financial close
- 2029 Q2Full network commissioning
Sponsor
Southern Cross Water Infrastructure Pty Ltd
Southern Cross Water Infrastructure is a 15-year-old Australian water infrastructure developer with four operating recycling assets and AUD 620M in cumulative project delivery.
ESG & Impact
- Reduces basin extraction by 41 GL/yr
- Recycled water displaces 28,000 t CO₂e/yr from pumped alternatives
- First-Nations water-rights co-governance council
Data Room
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