In March 2018, Water. Desalination + reuse (Faversham House) reported that NSC Agua, Consolidated Water's Mexican unit, had signed an equity subscription agreement for the desalination plant and pipeline in Rosarito, Baja California. NSC was to hold at least 25 percent of the project company Aguas de Rosarito and the investment vehicle Greenfield SPV VII 55 percent, while Suez Medio Ambiente México held an option on 20 percent. Shareholders were to fund about 20 percent of the phase one cost. It depended on debt financing and permits.
The report showed that the Rosarito scheme still depended on debt financing and permits, with its equity being spread across several partners.