Altus Power America completes 6.2-MW solar installation, sells power to HEC for 20 years under FIT program

Written By: Stratton Report
March 30, 2017

Altus Power

On March 30, Altus Power America, Inc. announced the completion of a 6.2-MW DC ground-mounted solar installation in Waiʻanae, Hawaiʻi.

According to the firm, the Aloha Solar Project will sell energy to Hawaiian Electric Company for 20 years under the Tier 3 FIT program. Per Altus, more than 100 FIT projects totaling more than 24-MWs are in service on Oʻahu.

Tom Athan, president of Altus Power America observed: “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.”

Altus stressed that it worked with developer Environmental Chemical Corporation in finalizing the project.

ECC Chairman Paul Sabharwal remarked:

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.

Altus emphasized that it is funded by Goldman Sachs, Global Atlantic Financial Group and FS Investments (sub-advised by GSO Capital Partners, a Blackstone Group company).