Consolidated Water (CWCO) said Monday its Cayman Water subsidiary has obtained a new concession from the Cayman Islands government, granting its continued rights to produce and supply potable water in its Grand Cayman service region.

Cayman Water runs three seawater reverse osmosis desalination plants, generating about 4 million gallons of potable water per day, Consolidated Water said.

Under the Cayman Islands' 2018 regulatory framework, Cayman Water must secure a concession before obtaining an operating license, the firm said.

The company said Cayman Water will now start negotiations with OfReg, the utility regulator, to secure the license. Its existing operating license will remain in force until the new license is issued.

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