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TheStreet Open House

Five-Megawatt Kalaeloa Solar Farm Now Generating Power On Oahu

Stocks in this article: SPWR

HONOLULU, March 8, 2013 /PRNewswire/ --  Today, Hawaii Governor Neil Abercrombie will join representatives of the Department of Hawaiian Home Lands (DHHL) and Hawaiian Electric Company in a dedication ceremony for a new five-megawatt Kalaeloa Solar Farm in West Oahu. The event is hosted by Bright Plain Renewable Energy, L.L.C. (BPRE), which manages the solar farm, and SunPower Corp. (NASDAQ: SPWR), which designed and built the project. The Kalaeloa Solar Farm was acquired in November 2012 by an affiliate of D. E. Shaw Renewable Investments, L.L.C. in partnership with BPRE. 

" Hawaii has growing energy demand and abundant sunshine, and it makes sense for the state to maximize our use of this clean, reliable and affordable solar resource," said Governor Abercrombie. "I applaud partners Bright Plain Renewable Energy, SunPower, Hawaiian Electric Company, and the Department of Hawaiian Home Lands for uniting to build this project. As the largest, most productive solar farm on Oahu to date, it will have significant positive impact on the state's renewable portfolio standards goal of 40 percent by 2030."

"Solar is a valuable source of power and attractive investment opportunity, particularly in Hawaii, as it cleanly and reliably serves our growing energy demand without imported fossil fuels, while providing a predictable, low risk return to investors over a long period of time," said David Buzby, CEO of BPRE. "We're confident that, with SunPower's leading solar power plant technology, this project will benefit the residents of Oahu for years to come."

At the 36-acre site, SunPower installed high-efficiency SunPower solar panels on a SunPower® T0 Tracker system. The Tracker positions solar panels to follow the sun's movement during the day, increasing sunlight capture by up to 25 percent over conventional fixed-tilt systems, while significantly reducing land requirements.

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