New Jersey American Water Completes Acquisition of Shrewsbury Township’s Alfred Vail Mutual Association Water System
American Water Works Company, Inc. (AWK)
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Source: Business Wire
Second Acquisition Completed via the Water Infrastructure Protection Act Adds 265 New Customers and Will Provide Critical Infrastructure Improvements for Residents CAMDEN, N.J.--(BUSINESS WIRE)--New Jersey American Water announced today it has completed its acquisition of the water system of Shrewsbury Township’s Alfred Vail Mutual Association community. The purchase of this system, which serves 265 customer connections, follows the approval of the New Jersey Department of Community Affairs and the New Jersey Board of Public Utilities, and is the second in the State of New Jersey to be completed through the Water Infrastructure Protection Act (WIPA).The state’s WIPA legislation was signed into law in 2015. It permits the sale of municipally owned water or wastewater systems that meet certain criteria. The New Jersey Department of Environmental Protection certified the township’s request to pursue the sale through the WIPA path in July 2023.“This agreement is a win for our community
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