Biden Pledges $95M For Hawaii's Electric Grid In Effort To Build 'Stronger And More Resilient Future'
Portfolio Pulse from Adam Eckert
President Joe Biden has pledged $95 million from the Bipartisan Infrastructure Law to strengthen Hawaii's electric grid following recent wildfires. The funding aims to improve service, limit damage during future events, and prevent future failures. Hawaiian Electric Industries Inc (NYSE:HE) is currently facing a lawsuit related to the fires, accused of removing key evidence from the primary fire scene.
August 30, 2023 | 7:20 pm
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Hawaiian Electric Industries is facing a lawsuit related to the recent wildfires in Hawaii. The company is accused of removing key evidence from the primary fire scene, which could potentially hamper the official investigation.
The lawsuit against Hawaiian Electric Industries could potentially lead to legal complications and financial liabilities for the company. This negative news could impact investor sentiment and put downward pressure on the company's stock in the short term.
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