The P3 project is the centerpiece of the FM Area Diversion, a $2.75 billion flood protection project which is a major climate-mitigation infrastructure project designed to protect families, businesses and property from catastrophic floods.
The P3 (design, build, finance and O&M) project includes the construction of a 30-mile channel designed to provide effective flood protection to the Fargo-Moorhead Metro Area.
CHICAGO, JUNE 21, 2021.ACCIONA and its partners, Shikun & Binui of Israel and Canada’s North American Construction Group, have been selected for a landmark flood protection project in the United States: the P3 portion of the $2.75 billion FM Area Diversion, that includes a 30-mile river diversion channel to protect the Fargo-Moorhead Metro Area from the recurrent floods of the Red River.
The Metro Flood Diversion Authority of Fargo-Moorhead selected the consortium led by ACCIONA with a 42.5% equity share, in an international tender for a Public-Private Partnership (P3) contract to design, build, finance, operate and maintain the flood diversion canal for a period of 29 years following completion of the project.
“This project brings together a team that offers global experience in flood protection management and climate mitigation, and pairs that with local expertise, to ensure its success,” said Martin Landry, ACCIONA North America’s VP of Business Development.
The project will allow ACCIONA to bring its global experience in designing and building climate resilient infrastructure to a landmark US project that aims to prevent billions of dollars in losses caused by flooding.
The FM Area Diversion grew out of studies following the historic Red River Flood of 1997, which caused an estimated $3.5 billion in damages. The diversion channel is a landmark climate change mitigation project, intended to address major floods. Once completed, it will protect more than 235,000 people. Financial close is expected later in the year.
ACCIONA and its partners will be responsible for the construction of the 30-mile river diversion channel, and associated infrastructure including bridges, rail crossings and aqueducts.
The diversion channel will begin in Cass County, North Dakota and by-pass several cities, including Horace, Fargo, West Fargo and Harwood. It will discharge into the Red River north of Georgetown, Minnesota. The channel will cross the Sheyenne, Maple, Lower Rush and Rush rivers. It will also transect the I-94 and I-29 highways, county and township roads, and railroads.
The Fargo-Moorhead flood diversion channel promises to be a signature project for ACCIONA in North America, and an opportunity to bring its global expertise in building climate resilient infrastructure that protects communities and makes them more prepared for the impacts of climate change.
“The Fargo-Moorhead Diversion Project is one of the most important climate mitigation projects in the United States to date,” says Landry. “When completed, this project will save billions of dollars in disaster losses and give families across the metro area peace of mind.”
ACCIONA IN NORTH AMERICA
ACCIONA has successfully delivered large infrastructure projects in North America since 2001. Our leadership and expertise span the entire value chain from research and development through construction, operation and maintenance of projects. ACCIONA is one of the leading companies in the private development of infrastructure with an accumulated experience of 9 P3 projects in North America. Currently involved in some of North America’s largest infrastructure projects, ACCIONA delivers solutions that contribute to the economic and social progress of the communities in which it operates. www.acciona.com
ACCIONA is a global company, leader in the provision of regenerative solutions for a decarbonized economy. Its business offer includes renewable energy, water treatment and management, eco-efficient transportation and mobility systems, resilient infrastructures, etc. The company has been carbon neutral since 2016. ACCIONA recorded sales of €6.47 billion in 2020 and has a business presence in more than 60 countries.www.acciona.com