The Hawaii Public Utilities Commission (PUC) has approved a contract for SunPower Corp. (NASDAQ: SPWRA, SPWRB) to sell energy to Hawaiian Electric Co. from a 5 MW solar photovoltaic (PV) farm planned in West Oahu.
The SunPower agreement represents the first utility-scale solar project on Oahu approved by the PUC. The cost per kilowatt hour will start under 20 cents and will initially escalate at a fixed rate before a price reduction during the second half of the contract.
SunPower will design, build and operate the facility. Subject to receipt of applicable permits, SunPower plans to begin construction this year and complete the solar farm within five months.
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