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<\/a><\/a>\nCollectively, these projects comprise one of Hawaiian Electric\u2019s largest-ever energy solicitations. When completed, these projects will make significant progress toward the state\u2019s goal of using 100% renewable energy for power generation by 2045. Today is the deadline for submittal of the RFP solicitation as part of the company\u2019s planning process overseen by the Public Utilities Commission (PUC).<\/p>
\n\u201cHawai\u2018i needs to move faster and we think our expedited procurement plan is the best way to drive competition, evaluate all options and more rapidly build a portfolio that meets the requirements of efficiency, reliability and lower carbon emissions and does it at the least cost,\u201d said Scott Seu, CEO of Hawaiian Electric. \u201cThis is one of the actions we\u2019re taking that will benefit our customers and our state sooner, not on some faraway horizon.\u201d<\/p>
\nHawaiian Electric is proposing four immediate action steps:<\/p>
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- \nRetiring aging power plants sooner by accelerating the addition of modern firm generation that can efficiently produce electricity 24\/7 when variable resources like wind and solar aren\u2019t available.<\/li>\n
- \nLaunching one of the largest generation resource procurements in state history in a competitive bidding process to seek nearly 1,650 gigawatt-hours (GWh) of variable renewable energy (i.e. solar, wind,) 465 megawatts (MW) of grid forming resources (i.e. solar generation plus battery storage) and 111 MW of firm generating capacity, resources that can be available 24\/7. Projects would be in service between 2031-2034.<\/li>\n
- \nSeeking separate, expedited regulatory approval to expand the procurement for fuel-flexible firm generation resources on O\u2018ahu by up to an additional 500 MW. In a letter to the Public Utilities Commission, the company said it was seeking a \u201ctransparent, Commission-supervised forum\u201d to evaluate the firm generation component within the broader portfolio of new resources without pre-determining its size or fuel requirement.<\/li>\n
- \nLaunching a request for proposals for all fuels by the end of 2026, including liquid and gaseous fuels, to provide a competitive evaluation of such measures as price, sourcing and environmental impact.<\/li>\n<\/ul>
\nO\u02bbahu, home to nearly one million residents, uses more than 70% of the electricity generated in Hawai\u02bbi. Electricity demand is growing at its fastest pace in two decades as transportation and industrial processes become increasingly electrified.<\/p>
\nHawaiian Electric emphasized that it remains open to a range of solutions to meet Hawai\u02bbi\u2019s energy needs, including liquefied natural gas (LNG) for power generation.<\/p>
\n\u201cWe believe natural gas could be a beneficial option for Hawai\u02bbi if it can deliver value to our customers,\u201d Seu said. \u201cAt the same time, any such pathway must be evaluated transparently, rigorously, and independently through the PUC\u2019s process.\u201d<\/p>
\nAn affiliate of a Japan-based energy conglomerate announced its plan to create a separate regulated utility to build and operate what would be the biggest power plant on O\u2018ahu, fueled by LNG, with additional generating project investments to follow. This energy conglomerate notified the PUC it will seek approval of this project outside the longstanding competitive bidding structure.<\/p>
\nIf the PUC agrees to expand the scope of procurement in the upcoming competitive bidding process, the energy conglomerate\u2019s project could be considered as part of the overall portfolio of resources being sought.<\/p>
\n\u201cHaving more options is always good and we welcome proposals by all developers to help find the optimal resource mix for Hawai\u02bbi,\u201d Seu said. \u201cWe believe in an open competitive process as opposed to a sole-source, multibillion-dollar contract without seeing what else is out there to ensure we\u2019re getting the best outcome for Hawai\u02bbi today and for decades to come.\u201d<\/p>
\nInterested developers can find more information on Hawaiian Electric\u2019s website<\/a> about the company\u2019s competitive bidding process. Information about the RFP regulatory proceeding can be found on the PUC website<\/a> under docket number 2024-0258 and on HEI\u2019s Investor Relations website in the \u201cReports & Filings\u201d section, on the \u201cSelect PUC Filings\u201d page.<\/p>
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