{"id":870413,"date":"2025-08-04T19:23:41","date_gmt":"2025-08-04T23:23:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hei-subsidiary-sells-solar-and-battery-storage-assets-to-fortistar-and-epic-star\/"},"modified":"2025-08-04T19:23:41","modified_gmt":"2025-08-04T23:23:41","slug":"hei-subsidiary-sells-solar-and-battery-storage-assets-to-fortistar-and-epic-star","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hei-subsidiary-sells-solar-and-battery-storage-assets-to-fortistar-and-epic-star\/","title":{"rendered":"HEI Subsidiary Sells Solar and Battery Storage Assets to Fortistar and Epic Star"},"content":{"rendered":"

<\/p>\n

HEI Subsidiary Sells Solar and Battery Storage Assets <\/b>to Fortistar and Epic Star<\/b><\/p>\n

HONOLULU–(BUSINESS WIRE<\/a>)–
\nHawaiian Electric Industries, Inc. (HEI) (NYSE – HE), the parent company of Pacific Current, LLC (Pacific Current), today announced the closing of the sale of Pacific Current\u2019s solar and battery storage assets to Fortistar and Epic Star Energy (Epic Star). The transaction is not expected to be material to HEI\u2019s financial statements.<\/p>\n

\nThe sale includes all of Pacific Current\u2019s operating solar and battery energy storage facilities on Kauai, Oahu and Maui. The transaction continues HEI\u2019s execution of its Pacific Current divestment and follows the March 2025 sale of the subsidiary\u2019s Hamakua Energy facility. The strategic review process for Pacific Current\u2019s remaining asset, a biomass plant on Kauai, is ongoing.<\/p>\n

\n\u201cThis transaction is another milestone on our path to a streamlined HEI enterprise focused on our core utility business,\u201d said HEI CEO Scott Seu. \u201cWe believe Epic Star\u2019s expertise in renewable energy will make it a good partner for Hawaii as our state continues on its path to a more clean, reliable and resilient energy future.\u201d<\/p>\n

\nThe Epic Star leadership team\u2019s experience in renewable energy includes development of a solar plus battery storage facility currently under construction on Oahu, among the island\u2019s largest to date, as well as large solar PV and battery energy storage facilities in the continental U.S. Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges.<\/p>\n

\n\u201cThe acquisition of these important operating solar and battery storage projects further demonstrates our commitment to clean energy in Hawaii,\u201d said Henry Yun, CEO of Epic Star. \u201cWe are excited to be a part of the state\u2019s energy future and provide reliable, renewable power to our new customers on Kauai, Oahu and Maui.\u201d<\/p>\n

About HEI<\/span><\/b><\/p>\n

\nThe HEI family of companies provides the energy services that empower much of the economic and community activity of Hawai\u02bbi. HEI\u2019s electric utility, Hawaiian Electric, supplies power to approximately 95% of Hawai\u02bbi\u2019s population and is undertaking an ambitious effort to decarbonize its operations and the broader state economy, and modernize and harden the grid to ensure resilience and public safety. For more information, visit www.hei.com<\/a>.<\/p>\n

Forward-Looking Statements<\/span><\/b><\/p>\n

\nThis release may contain \u201cforward-looking statements,\u201d which include statements that are predictive in nature, depend upon or refer to future events or conditions, and usually include words such as \u201cwill,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cpredicts,\u201d \u201cestimates\u201d or similar expressions. In addition, any statements concerning future financial performance, ongoing business strategies or prospects or possible future actions are also forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and are subject to risks, uncertainties and the accuracy of assumptions concerning HEI and its subsidiaries, the performance of the industries in which they do business and economic, political and market factors, among other things. These forward-looking statements are not guarantees of future performance.<\/p>\n

\nForward-looking statements in this release should be read in conjunction with the \u201cCautionary Note Regarding Forward-Looking Statements\u201d and \u201cRisk Factors\u201d discussions (which are incorporated by reference herein) set forth in HEI\u2019s Annual Report on Form 10-K for the year ended December 31, 2024 and HEI\u2019s other SEC periodic reports and filings that discuss important factors that could cause HEI\u2019s results to differ materially from those anticipated in such statements. These forward-looking statements speak only as of the date of the report, presentation or filing in which they are made. Except to the extent required by the federal securities laws, HEI, Hawaiian Electric and their subsidiaries undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250804573168\/en\/<\/a><\/span><\/p>\n

Investor Contact
\n<\/span><\/b>
Mateo Garcia
\n
Director, Investor Relations
\n
ir@hei.com
\n<\/a>
(808) 543-7300<\/p>\n

Media Contact
\n<\/span><\/b>
Julie Smolinski
\n
VP, Strategy & Corporate Sustainability
\n
media@hei.com
\n<\/a>
(808) 543-5874<\/p>\n

KEYWORDS:<\/b> Hawaii United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Alternative Energy Energy Other Energy Utilities<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

HEI Subsidiary Sells Solar and Battery Storage Assets to Fortistar and Epic Star HONOLULU–(BUSINESS WIRE)– Hawaiian Electric Industries, Inc. (HEI) (NYSE – HE), the parent company of Pacific Current, LLC (Pacific Current), today announced the closing of the sale of Pacific Current\u2019s solar and battery storage assets to Fortistar and Epic Star Energy (Epic Star). The transaction is not expected to be material to HEI\u2019s financial statements. The sale includes all of Pacific Current\u2019s operating solar and battery energy storage facilities on Kauai, Oahu and Maui. The transaction continues HEI\u2019s execution of its Pacific Current divestment and follows the March 2025 sale of the subsidiary\u2019s Hamakua Energy facility. The strategic review process for Pacific Current\u2019s remaining asset, a biomass plant … <\/p>\n

Continue reading “HEI Subsidiary Sells Solar and Battery Storage Assets to Fortistar and Epic Star”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-870413","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nHEI Subsidiary Sells Solar and Battery Storage Assets to Fortistar and Epic Star - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hei-subsidiary-sells-solar-and-battery-storage-assets-to-fortistar-and-epic-star\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HEI Subsidiary Sells Solar and Battery Storage Assets to Fortistar and Epic Star - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HEI Subsidiary Sells Solar and Battery Storage Assets to Fortistar and Epic Star HONOLULU–(BUSINESS WIRE)– Hawaiian Electric Industries, Inc. (HEI) (NYSE – HE), the parent company of Pacific Current, LLC (Pacific Current), today announced the closing of the sale of Pacific Current\u2019s solar and battery storage assets to Fortistar and Epic Star Energy (Epic Star). The transaction is not expected to be material to HEI\u2019s financial statements. The sale includes all of Pacific Current\u2019s operating solar and battery energy storage facilities on Kauai, Oahu and Maui. The transaction continues HEI\u2019s execution of its Pacific Current divestment and follows the March 2025 sale of the subsidiary\u2019s Hamakua Energy facility. 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