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Blue Earth has acquired the exclusive rights to build seven PV projects in Hawaii which will have a total output of approximately 3.5MW. The projects are valued at around US$15 million.
All seven projects will be constructed on the island of Oahu by local trade people and they will be primarily ground mounted solar systems. Blue Earth’s 100% owned subsidiary Xnergy will provide the required EPC for the projects.
Construction of two of the projects are expected to begin in the third quarter of 2012 with an expected end date of no later than the fourth quarter of 2012. Construction of the remaining five projects, meanwhile, are scheduled to begin in the fourth quarter of 2012 with a forecasted completion date in the first quarter of 2013.
Furthermore, six of the seven projects comply with the requirements of the Renewable Energy Tier 2 FiT offered by the Hawaiian Electric Company (HECO). Hawaii has the largest Renewable Portfolio Standard in the US, requiring 40% of the state’s energy to be supplied by renewable energy by 2030. HECO’s FiT programme is designed to encourage the addition of more renewable energy projects in Hawaii.