Central Arizona Irrigation and Drainage District (“CAIDD”) and Cadiz, Inc. (NASDAQ: CDZI, CDZIP) today announced execution of a Memorandum of Understanding (“MOU”) for the purchase and sale of up to 10,000 acre-feet per year (“AFY”) of new water supply from Cadiz’s Mojave Groundwater Bank in San Bernardino County, California. … Under the proposed terms, CAIDD would secure rights to purchase up to 10,000 AFY of conserved groundwater for an initial 50-year term with renewal opportunities. Initial pricing would include a volumetric charge of $850 per AFY (2025 dollars) plus operations, maintenance, and pro-rated power costs for conveyance to the Colorado River Aqueduct, and a one-time prorated capital charge per acre-foot for dedicated pipeline capacity. 

Other groundwater news:

• The Daily Independent (Sun City, Ariz.): Opinion: Havasupai Tribe has a duty to protect our people, waters and sacred lands