Hawaiian Electric Industries (HEI), the parent company of Pacific Current, has announced the sale of Pacific Current’s 60-megawatt Hamakua Energy Plant on the island of Hawaii to a subsidiary of Harbert Management Corp. Financial terms were not disclosed.
The HEI family of companies provides the energy services that empower much of the economic and community activity of Hawaii. HEI’s electric utility, Hawaiian Electric, supplies power to approximately 95 percent of Hawaii’s population and is undertaking an effort to decarbonize its operations and the broader state economy, and modernize and harden the grid.
The sale of the plant is a key step in HEI’s previously announced review of strategic options for Pacific Current. The strategic review process for other Pacific Current assets is ongoing.
Harbert is a longstanding owner and operator of power generating facilities, including in Hawaii, where it has had an ownership stake in the 208-megawatt Kalaeloa P
