Hawaiian Electric Company Announces Ameresco Award To Develop The 'Ūkiu Energy 40MW Renewable Energy Site
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Ameresco, Inc. (NYSE:AMRC) has been awarded by Hawaiian Electric Company to develop the 'Ūkiu Energy 40MW renewable energy site in Maui, enhancing grid reliability and advancing Hawaii's clean energy goals. The facility, featuring a biofuel-powered generator with six dual-fuel engines, will support decarbonization, reduce Maui's fossil fuel dependence, and provide 24/7 renewable energy. This project, pending Public Utilities Commission approval, is part of Hawaiian Electric's clean energy procurement phase and will be built, owned, and operated by Ameresco. It marks Ameresco's fourth award with Hawaiian Electric, following the Kūpono Solar, Pu`uloa Energy, and Pu`uloa Solar projects.
February 21, 2024 | 1:30 pm
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Ameresco, Inc. (NYSE:AMRC) has been awarded a contract to develop the 'Ūkiu Energy 40MW renewable energy site in Maui by Hawaiian Electric Company, aiming to enhance grid reliability and support Hawaii's clean energy initiatives.
The award of the 'Ūkiu Energy project to Ameresco by Hawaiian Electric Company signifies a significant step in Ameresco's involvement in renewable energy projects, likely enhancing its market position and financial performance. The project aligns with Hawaii's clean energy goals and Ameresco's expertise in renewable energy, suggesting a positive outlook for Ameresco's stock in the short term due to the potential for increased revenue and strengthened industry reputation.
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