Hawaii Electric Light Co. looking for geothermal energy developers
Hawaii Electric Light Co. is looking for help developing geothermal resources.
Hawaii Electric Light Co. said Friday that it filed a proposed final geothermal request for proposals with the Hawaii Public Utilities Commission.
HELCO, a subsidiary of Hawaiian Electric Industries (NYSE: HE) subsidiary Hawaiian Electric Co., is seeking approval to issue the 50-megawatt geothermal RFP and begin the bidding process to find potential developers of geothermal resources on the Big Island.
A draft geothermal RFP was issued last November. The PUC also selected an independent observer, Boston Pacific Co., to monitor and advise on all steps of the competitive bidding process to ensure that the process is fair and stays within the PUC framework for competitive bidding.
Once a final RFP is approved by the PUC, HELCO will issue the RFP, opening up the process for bidders, who will have 60 days to respond.
HELCO expects to make a selection 120 days after the bids are due.
More than 40 percent of the electricity on the Big Island is already generated from renewable resources, including hydroelectric, wind, distributed solar and geothermal.
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