NextEra sets up Hawaiian arm for wind, solar projects
Aug 13, 2013 - US power supplier NextEra Energy (NYSE:NEE) has established a Hawaiian unit to develop wind and solar power projects in the US islands, the Pacific Business News said on Monday, citing a regulatory filing.
NextEra Energy Hawaii will be engaged in the development of the planned undersea grid-tie cable project linking the power grids of Oahu, Maui and the Big Island on Hawaii. It will also pursue utility-scale wind and solar projects on these same islands.
The US wind and solar power producer said in a filing to the Hawaii Public Utilities Commission that it had spent over USD 10 million (EUR 7.5m) to create the new entity, develop viable cable routes, conduct preliminary engineering works and environmental assessment for the grid cable project -- NextGrid Hawaii.
At the end of July, NextEra Energy Resources LLC, the green energy arm NextEra Energy posted a second-quarter 2013 GAAP net profit of USD 229 million, down from USD 251 million a year ago. The unit's goal is to add up to 1,500 MW of new US wind assets through 2014 and some 300 MW of new contracted solar generation through 2016.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.