The Hawaiian Electric Co. may be in line to receive $2.45 million dollars that they’ve promised to pass along to customers, but it is far from certain that they — and we — will ever see that money.
The power company announced in a Feb. 12 merger filing that they are terminating deals to buy energy from a trio of Oahu solar farms — Kawailoa, Milani II and Waikio — that SunEdison is supposed to complete.
Hawaiian Electric says it is due a substantial termination fee for “damage” the company is incurring because the 49-megawatt Kawailoa solar farm is not going into production, according to the company’s regulatory filing. The other two farms have no termination fee.
Hawaiian Electric said that it was bailing on the purchase power agreement partly over concerns about SunEdison’s grim financial straits, which could lead to further delays or prevent the company from ever completing the projects.
The three solar farms were supposed to bring 148 megawatts of renewable energy online. SunEdison has said this would boost Oahu’s solar capacity by about 30 percent.