Hawaii-based Kokua Aina Energy and the Texas-based project investment company Crescendo Power signed an agreement this week to develop and fund distributed energy resource projects in Hawaii and on the US mainland.
Crescendo Power focuses on behind-the-meter distributed energy resource projects, including microgrid systems, and their portfolio targets commercial, industrial, healthcare, higher education, and municipal projects in the 1 – 10 MW range.
Kokua Aina Energy Partners is a joint venture of No Ka Oi Energy and BrightLine Consulting formed last year to develop turn-key, utility-grade, and large C&I renewable energy generation and battery storage projects in Hawaii. Their solutions include solar, wind, biomass, energy storage systems, micro-turbines, microgrids, energy efficiency, and grid-interconnected or independent grid operations.
Principal members of Kokua Aina have developed larger renewable energy projects such as Kaheawa Wind Farms 1 & 2 (51 MW), Ku’ia Solar Farm (2.87 MW), Kahuku Wind Farm (30 MW), South Maui Renewable Resources (2.87 MW), and Kawailoa Wind Farm (69 MW), according to the company.
“Our new relationship with Crescendo Power will give us tremendous resources to develop and fund new opportunities that will help our clients achieve their renewable and sustainability goals,” said Kokua Aina co-founder and principal Glenn Yamasaki.
Hawaii is one most fossil fuel dependent state in the US, due in large part to dependence on tourism and the military, according to the Hawaii Clean Energy Initiative, a partnership between the state and the DOE that launched 10 years ago. Since then, the state has set ambitious energy goals, including a reduction in electricity consumption by 4,300 GWh by 2030 and a 100% renewable energy portfolio standard by 2045.
Over the past few years, Hawaii’s grid operators turned to renewable sources, distributed generation, and energy efficiency programs to reduce reliance on fossil fuels. The recent agreement between Kokua Aina Energy Partners and Crescendo Power could help the state reach its 100% renewables goal.
“We recognize that Hawaii’s unique industry leadership in distributed generation projects is strategically important,” said Crescendo Power’s co-founder and managing director Todd Price.
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