Pennsylvania American Water Receives More than $9.5 Million in PENNVEST Funding for Lead Service Line Removal Project in New Castle
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MECHANICSBURG, Pa.--(BUSINESS WIRE)--
The Shapiro administration today announced that Pennsylvania American Water was awarded a grant and a low-interest loan from the Pennsylvania Infrastructure Investment Authority (PENNVEST) totaling $9,527,990. The funding will support one of the company’s lead service line replacement projects in the City of New Castle, Lawrence County.
“At Pennsylvania American Water, we strive to provide our customers with high-quality, reliable water services while also meeting environmental standards and regulations. We’re thankful to PENNVEST for approving this funding request that will support us in that mission,” said Pennsylvania American Water Vice President of Engineering Tony Nokovich. “This project will have a positive impact on the service provided for our customers by enabling us to continue our efforts to remove lead service lines.”
The PENNVEST grant of $5,565,850 and $3,962,140 loan will fund the replacement of approximately 550 identified lead water service lines in New Castle. The removal of all leaded components will provide direct water quality improvements to customers and is consistent with regulatory and Pennsylvania American Water initiatives to eliminate lead-containing lines from the public water supply system. Learn more at pennsylvaniaamwater.com/leadfacts.
“Since the inception of the State Revolving Fund, PENNVEST has approved in excess of $12.8 billion in clean water infrastructure projects," said PENNVEST Executive Director Robert Boos in the Commonwealth’s official announcement. “The revolving nature of the fund has proven to be highly successful. As we move forward, our focus will remain on supporting projects that continue to innovate and foster collaboration, ensuring we deliver even greater results for our communities.”
The terms of the loan Pennsylvania American Water received are 1% for the full 20-year loan period.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,700 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
Pennsylvania American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 2.4 million people.
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