AES Kuihelani Facility: Hawaii’s Largest Solar Facility Turns on Clean Energy – AES (NYSE:AES)

Yesterday, AES company AES AES Hawaii has commenced operations at the Kuihelani Solar-plus-Storage facility on Maui, the largest solar project in Hawaii.

Situated on 450 acres in downtown Maui between Kuihelani Highway and Maui Veterans Highway, the Kuihelani Solar-plus-Storage project generates 60 MW of renewable energy.

Leveraging the facility’s dual-use potential, AES Hawaii is partnering with Hooulu Aina Farms in nearby Waikapu to support agricultural and food production on Maui.

It is worth noting that AES Hawaii previously entered into a 25-year power purchase agreement with the company Hawaiian Electric Industries, Inc. HEeffective May 31, 2024, providing renewable energy to the Maui power grid at a rate of 8 cents per kilowatt hour.

Moreover, the project helps eliminate the requirement to import two million barrels of oil to produce electricity on Maui.

AES Hawaii President Sandra Larsen said, “Kuihelani Solar-plus-Storage is an example of how we can power our future when we combine exceptional renewable energy design with community-minded partners to provide the services essential to living and working in Hawaii.”

“In July 2022, we achieved a breakthrough, overcame supply chain logistics challenges, and are now producing much-needed clean energy for Maui’s power grid.”

Colton Ching, senior vice president of planning and technology for Hawaiian Electric, commented: “With this project, our state is taking another significant step toward achieving our renewable energy goals. “Adding both renewable energy and energy storage will help reduce fossil fuel use, protect us from the impacts of climate change, ensure reliable service and ensure Maui’s energy security.”

Last month, AES disclosed the sale of a 47.3% stake in AES Brasil to Auren Energia for approximately $640 million in proceeds.

Investors can gain exposure to AES shares through The listed funds will hold the TrueShares Eagle Global Renewable Energy Income ETF General Meeting AND Veridien Climate Action ETF bond and managed futures returns CLIA.

Read also: Top 3 Utility Stocks Possible to Fall in Q2

Reduction: AES stock was down 2.36% at $19.90 at last check on Tuesday.

Reservation: This content was created in part using AI tools and reviewed and published by Benzinga editors.

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