First Wind confirms receipt of $117MM DOE loan guarantee for Kahuku wind project in Hawaii

Source: First Wind 

First Wind released comments today confirming the close of a $117 million loan guarantee from the U.S. Department of Energy for its 30 MW Kahuku Wind project located in Oahu, Hawaii which began construction earlier in the month.

“We are very pleased to close on the loan guarantee for our Kahuku Wind project,” said Paul Gaynor, CEO of First Wind. “The Department of Energy and its Loan Programs Office have played a vital role in advancing this project, which broke ground earlier this month. The loan guarantee helped us to secure the necessary financing to build this new wind energy project, which will create jobs, generate clean power for the people of Oahu, and help Hawaii gain greater energy independence. We appreciate the DOE’s support for this innovative project.”

Located on Oahu’s North Shore, the Kahuku Wind project will consist of twelve 2.5 MW Clipper Liberty wind turbines, and upon completion will have the capacity to generate enough clean, renewable energy to power up to 7,700 Oahu homes each year. The project will also include a battery energy storage system to assist in meeting performance standards and smoothing fluctuations in wind energy output. The battery storage system was developed by Xtreme Power, Inc. and will be the largest of its kind in Hawaii. 

Earlier this year the Hawaii Public Utilities Commission approved a 20-year power purchase agreement between Kahuku Wind Power and Hawaiian Electric Company for the utility to purchase renewable energy produced by the Kahuku wind energy project.

The Kahuku Wind project is also creating employment opportunities during design, engineering and construction including approximately 200 construction jobs. Once comissioned, the project will support the ambitious Hawaiian Clean Energy Initiative, which aims to have 70 percent of the state’s energy for electricity and ground transportation come from clean energy by 2030.

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