Source: Flickr/Len Langevin
The Hawaiian Electric Company (HECO) will buy power from 110MW of new NRG-owned solar projects after state regulators approved the deal.
Power purchase agreements (PPAs) averaging US$0.108/kWh have been signed for the three projects, which were formerly SunEdison sites.
The 49MW Kawailoa Solar project will be the state’s largest. It is built on land owned by the Kamehameha School near Waialua. The school’s land is also home to an existing 69MW wind farm.
The other two projects are the 45.9MW Waipio Solar project, also near Waiawa, and Lanikuhana Solar (14.7MW) near Mililani.
The three sites originally belonged to SunEdison but were acquired by NRG in November 2016 as part of the former’s bankruptcy proceedings. HECO cancelled the previous PPAs with SunEdison when project milestones were missed and negotiated lower rates with the new owners.
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Now in its sixth successful year, Solar & Storage Finance USA is the only event which looks at raising capital for solar, storage and collocated solar and storage projects in the USA. The conference will help delegates understand how providers are evolving propositions for storage and how they can access capital for standalone solar or storage, and co-located projects. Meet debt providers, funders, utilities, corporate off takers and blue chip energy firms with capital to invest and developers with credible pipelines.
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