Two Rivers Water Co. says it is has acquired 1,500 acres of previously irrigated farmland in southern Colorado for $450,000.

CEO John McKowen says the company is looking to produce organic alfalfa on the land using water from Orlando Reservoir and associated water rights that it bought in January for $3.1 million.

McKowen said Tuesday that if there is demand from municipalities for water down the line, Two Rivers can provide water by fallowing some of its land on a rotating basis.