First Wind, an independent renewable energy company that operates four wind projects in Hawai‘i, has signed a 20-year power purchase agreement with the O‘ahu grid from a planned 20-megawatt (MW) (AC) solar photovoltaic energy facility near Mililani.
The planned project has the capacity to provide clean energy to the equivalent of 6,000 O‘ahu homes and, over the term of the contract, will provide cost savings to ratepayers of up to $67 million.
Power will be sold to Hawaiian Electric at 15.6 cents per kilowatt hour (kWh), which is significantly less than the Hawaiian Electric’s recent cost of generating power of 23.3 cents per kWh, the company said.
The power purchase agreement with Hawaiian Electric for the Mililani Solar project supports a mandate set by the Hawai‘i Clean Energy Initiative (HCEI) to achieve 70 percent of Hawai‘i’s energy through conservation and clean energy sources by 2030, and reduce Hawai‘i’s reliance on imported fossil fuel.
The project is the first in Hawai‘i to be developed by First Wind’s new solar division, First Wind Solar Group, which was established to explore solar energy opportunities near the company’s wind projects in Hawai‘i, the Northeast, and the West.
Paul Gaynor, CEO of First Wind , said, “This is a milestone for First Wind as we look for new ways to turn Hawai‘i’s abundant natural resources into affordable clean energy for the islands’ electrical grids. We look forward to working closely with local communities, the utility, the city and the state as we install this important renewable energy facility.”