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On July 27, 2026, Hawaiian Electric Company entered into a new Power Purchase Agreement with Kalaeloa Partners L.P. to…
HEHawaiian Electric Industries Inc
On July 27, 2026, Hawaiian Electric Company entered into a new Power Purchase Agreement with Kalaeloa Partners L.P. to repower its LSFO-fired combined-cycle facility for renewable energy qualification under Hawaii law. The agreement secures 208 MW of firm capacity for 30 years following commercial operation, replacing the existing contract terminating in early 2033. Key financial terms include a reduced fixed capacity charge of $93/kW/year compared to the previous $100/kW/year, alongside updated variable and fixed operations and maintenance charges escalating with the GDP implicit price deflator. Effectiveness is contingent upon approval by the Public Utilities Commission of the State of Hawaii. Hawaiian Electric Industries operates in the electric utility industry, providing electricity generation and distribution services primarily in Hawaii.