HEI - Hawaiian Electric Industries Inc.

03/08/2018 | Press release | Distributed by Public on 03/08/2018 14:35

Hawaiian Electric launches largest renewable energy procurement effort in state history

HONOLULU, March 8, 2018 /PRNewswire/ -- The Hawaiian Electric Companies, subsidiaries of Hawaiian Electric Industries, Inc. (NYSE: HE), have formally begun the search for new, grid-scale renewable energy projects for O'ahu, Maui and Hawai'i Island.

Qualifying proposals may be submitted through April 30, 2018, with selection of developers and contract negotiations expected in September. The request for proposals and additional information are available at www.hawaiianelectric.com/competitivebidding.

The companies are seeking the largest amount of variable renewable resources ever to be developed at one time in Hawai'i, including:

  • 220 megawatts (MW) for O'ahu
  • 60 MW for the island of Maui
  • 20 MW for Hawai'i Island

Developers have the option to include energy storage in their bids.

'This phase of our effort to transition to renewable energy is critically important,' said Shelee Kimura, Hawaiian Electric senior vice president of business development and strategic planning. 'We've heard from many people over the years interested in bringing their expertise to Hawai'i, so now is the time to bring us the plans for providing clean, reliable energy and reducing our customers' costs.'

This is the first stage of a proposed two-stage process, targeting renewable resources to be added through 2022 so developers can take advantage of federal investment tax credits before they expire.

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SOURCE Hawaiian Electric Industries, Inc.