June 20 -- Hawaiian Electric Company 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, HECO will negotiate 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. HECO anticipates negotiating long-term, 20-year contracts with each project.
All the combined projects have committed to sell electricity to HECO at an average price of 15.9 cents per kilowatt-hour. This is about one-third less than prices paid to existing solar and wind energy projects on Oahu and the current cost of generating electricity from oil. >>View Article