Exhibit 21.1

CONSOLIDATED WATER CO. LTD. AND RELATED COMPANIES

Affiliates of the Registrant

     The following list includes all of the Registrant’s wholly-owned subsidiaries and affiliates as of December 31, 2008. All subsidiaries of the Registrant appearing in the following table are included in the consolidated financial statements of the Registrant.

Affiliates	Jurisdiction of Organization
Aquilex, Inc. (100%)	United States of America
Cayman Water Company Limited (100%)	Cayman Islands
Consolidated Water (Bahamas) Limited (formerly, Waterfields Company Limited) (90%)	The Bahamas
Consolidated Water (Belize) Limited (formerly, Belize Water Limited) (100%)	Belize
Consolidated Water (Bermuda) Limited (Affiliate)	Bermuda
DesalCo Limited (100%)	Cayman Islands
Ocean Conversion (BVI) Ltd. (Affiliate)	The British Virgin Islands
Ocean Conversion (Cayman) Limited (100%)	Cayman Islands