Virginia American Water has signed an agreement for buying the drinking water and wastewater assets of the Town of Cape Charles, Virginia for up to $15 million.
Virginia American Water has committed to invest more than $10 million in critical system improvements over the next eight years.
“Selling to Virginia American Water will allow the Town to leverage our expertise and decades of water and wastewater experience throughout the state and provide a long-term solution for the town’s water challenges,” said Barry Suits, president of Virginia American Water.
Virginia American Water needs to obtain approval by the Virginia State Corporation Commission (SCC). The Town of Cape Charles and Virginia American Water anticipate completing the acquisition in late 2023 following SCC approval.