22 Jun '13, 4pm

Hawaiian Electric Seeks to Speed Up Development of Low-cost Renewable Energy for Oahu.

Hawaiian Electric Seeks to Speed Up Development of Low-cost Renewable Energy for Oahu. To accelerate the development of renewable energy resources, Hawaiian Electric Company (HECO), subsidiary of Hawaiian Electric Industries, has asked the Public Utilities Commission for permission to negotiate with five proposed projects that could quickly provide low-cost electricity for Oahu. If the PUC approves, Hawaiian Electric will negotiate power purchase agreements directly with the developers of the five projects, which include a mix of solar and wind technologies across Oahu with a combined capacity of 64 megawatts. Hawaiian Electric anticipates negotiating long term, 20-year contracts with each project. Combined, the projects have committed to sell electricity to Hawaiian Electric at an average price of 15.9 cents per kilowatt-hour. This is about one-third less than prices paid...

Full article: http://www.green-energy-news.com/nwslnks/clips613/jun1302...

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