Hawaiian Electric enters new 208 MW PPA with Kalaeloa; capacity charge cut to $93/kW/yr

HAWAIIAN ELECTRIC INDUSTRIES INC

New PPA for 208 MW firm capacity, 30-year term after commercial operation, replacing existing PPA expected to terminate early 2033.
Fixed capacity charge reduced to $93/kW per year from $100/kW per year under the old PPA.
Variable O&M charge set at $0.004/kWh (2023 dollars) escalating with GDPIPD; fixed O&M $96/kW per year.
PPA subject to PUC approval; if not received within 12 months of submittal, either party may declare it null and void.
Kalaeloa to repower facility for fuel flexibility and renewable energy qualification under Hawaii RPS.

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