Ecosystem Renewal and The Earth Partners Cooperation Proves Success
- Business & Finance
Over the past year, Ecosystem Renewal (ER) and The Earth Partners (TEP) have successfully partnered to develop large-scale wetland mitigation solutions for the rapidly growing greater Houston area.
They permitted and constructed one of the largest wetland banks in Texas slated to provide over 5,000 freshwater and tidal wetland credits over the next decade.
WRA, Inc. and Conservation Investment Management (CIM) were key advisers in the origination and development of the strategic alliance, supporting technical and market due diligence.
The Gulf Coastal Plains Mitigation Bank is the first operational mitigation bank of the ER and TEP partnership, with 13 phases covering 1,800 acres of freshwater emergent and tidal wetlands.
This bank will provide critical habitat for waterfowl and other aquatic species.
Gulf Coastal Plain’s phase 1 construction was completed in March 2017, in less than six months, releasing 150 freshwater and tidal wetland credits for mitigation offsets in watersheds south and east of Houston.
ER has already developed a robust credit sales pipeline, supporting efficient infrastructure permitting in the Gulf Coast region, the official announcement stated.
Their next project, Spindletop Bayou Mitigation Bank, is expected to be operational by the end of the year.
Spindletop will restore over 400 acres of bottomland hardwood and hardwood flatwood forested wetlands, improving fish and wildlife habitat along with local water quality. It is expected to generate 40,000 stream credits and 733 wetland credits in 6 watersheds east of Galveston Bay.