ACCIONA, as leader of the Red River Valley Alliance (RRVA) consortium, together with Shikun & Binui and North American Construction Group, is carrying out the project to finance, build, operate and maintain a flood diversion channel in the United States. The consortium will operate and maintain the project for 30 years under a public-private partnership (PPP) agreement.
The €2.34 billion project stretches between Fargo, North Dakota, and Moorhead, Minnesota, and will divert rainwater and storm water from the Red River, protecting more than 235,000 people from the catastrophic effects of flooding. The project grew out of studies conducted after the historic Red River floods of 1997, which caused an estimated US$3.5 billion (€3 billion) in damages.
The 48-kilometer Fargo-Moorhead channel is a climate change resilience initiative and represents ACCIONA's significant entry into the US construction and concessions market. In addition to the construction of the canal, the project includes all the necessary associated infrastructure, including:
- One diversion outlet.
- Two aqueducts.
- 14 drainage inlets.
- Two interstate crossings.
- 12 county road crossings.
- Three railroad crossings.
The channel is the first U.S. green finance project dedicated to climate change adaptation infrastructure. Construction began in August 2022 and is expected to be completed in 2027.
GENERAL INFORMATION
- Location: Fargo, North Dakota - Moorhead, Minnesota, United States.
- Type of contract: Finance, build, operate and maintain for 30 years (PPP).
- Infrastructure: 48 km of flood diversion channel and related infrastructure.
- Year of completion: 2027.