A renewable energy and energy efficiency services company named Blue Earth, Inc. is set to begin a solar PV system project in the shores of Hawaii. The program known as the Hawaiian Project is composed of a 497-kilowatt (KW) solar photovoltaic (PV) system whose value is said to amount up to $2 million. The PV panels will be mounted on to the ground and will generate renewable energy for the island which is in turn, regulated by the Hawaiian Electric Company (HECO) through a Power Purchase Agreement (PPA).
To better handle the Hawaiian Project, Blue Earth, Inc. established a separate special purpose entity (SPE) called Waianae PV-2 to directly manage local affairs. The contract established between the said SPE (Waianae PV-2) and HECO is to last for 20 years and indicates solar energy supply in the form of kilowatt-hours (kWh in electricity).
In the entire United States, Hawaii has one of the largest Renewable Portfolio Standards (RPSs) in the country that requires at least 40% of the state’s energy to be renewable by a set deadline in 2030. To further increase the incoming of renewable energy projects in the state, HECO created its own Feed-in-Tariff (FiT) program that is specifically designed to standardize selling terms of renewable energy to HECO.
Together with the Waianae PV-2, Blue Earth, Inc. and HECO, Xnergy, a full-service engineering company is also set to help out install the Hawaiian Project. Xnergy has built over 100 megawatts (MW) of traditional and alternative energy systems in the United States. It also offers consultation deals with regards to energy saving projects, energy conservation, energy infrastructure outsourcing, power generation and energy supply risk management in California. Xnergy serves public and private clients in the energy industry of the nation in order to help other industries minimize their energy consumption and ultimately reduce carbon footprint.
The Hawaiian Project is expected to begin by the third quarter of 2012 and to finish by the first quarter of 2013. For more information regarding the Hawaiian Project, please visit this link: Blue Earth to Build Hawaiian Project
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