Dive Summary:
- Hawaiian Electric Co. (HECO) is looking for developers to build utility-scale renewable energy projects in the state; once chosen, the projects will require approval from the state's Public Utilities Commission.
- The requirements for the projects are that they be located on Oahu, be larger than 5 megawatts and use wind, solar or geothermal energy.
- The goal is have one or more of these projects in service by 2015; any developer selected must also negotiate a power purchase agreement with HECO.
From the article:
“We believe the best way to reduce our customers’ bills is to add as much renewable energy on long-term, fixed-price contracts to our grids as soon as possible,” HECO Vice President for Energy Resources and Operations Scott Seu said in a statement. “We believe there may be projects substantially ready to go that can be built quickly and at a cost that can help reduce our heavy dependency on fossil fuels.” ...