Altus Power America, Inc. announces the completion of a 6.2 megawatt (MW) DC ground-mounted solar installation in Waiʻanae, Hawaiʻi, on the west side of Oʻahu.
The solar energy system, known as the Aloha Solar Project, will sell clean, renewable energy to Hawaiian Electric Company for 20 years under the Tier 3 Feed-In Tariff (FIT) program.
The FIT program was designed to encourage the construction of renewable energy projects in Hawai'i by offering pre-established rates and standardized contract terms. More than 100 FIT projects totaling more than 24 MW are in service on Oʻahu.
The Aloha Solar Project is expected to generate more than 10 million kilowatt hours (kWh) of energy annually, enough to power more than 1,000 Oʻahu homes with electricity. Additionally, the solar energy system will offset the greenhouse gas emissions from 815,000 gallons of gasoline every year. "We are proud of our partnership with Hawaiian Electric and excited about bringing jobs to Hawaiʻi and helping the state achieve its goal of generating 100 percent of its electricity from renewable resources by 2045," said Tom Athan, president of Altus Power America.
The Aloha Solar Project has employed dozens of local electricians, engineers, tradesmen, landscapers and construction crews. The facility will be serviced by a local operations and maintenance team based in Honolulu and will provide a steady land-lease payment to a Waiʻanae small business owner.
Altus worked with developer Environmental Chemical Corporation (ECC) in finalizing the project. ECC Chairman Paul Sabharwal said, "After five years of investment in the development milestones we are elated to have found a partner in Altus, whom has demonstrated the vision and wherewithal to help make renewable energy a reality for the people of Hawaiʻi."
About Altus Power America
Altus Power America, Inc. is a Greenwich, Conn. based company that invests in, owns and operates clean energy projects that provide renewable energy and solar savings to commercial and public sector clients. Altus is funded by Goldman Sachs, Global Atlantic Financial Group and FS Investments (sub-advised by GSO Capital Partners, a Blackstone Group company).