Billionaire buy

Larry Ellison wants to buy his own grid from Hawaiian Electric.

 

The utility Hawaiian Electric brands itself as “one Hawaii,” but it may be less whole in a short while if a proposed agreement with Larry Ellison’s company receives necessary PUC approval.

HI is exploring its possible sale to Ellison’s company Pulama Lanai, which operates the Four Seasons Resort Lanai operations at Manele and Sensei. The company is the largest utility customer on the island. As described on the Lanai utiliy’s website,

Hawaiian Electric was approached by Pulama Lanai about acquiring the assets of the utility after Hawaiian Electric issued a request for proposals (RFP) for renewable energy projects on Lanai. The exploratory talks are in the preliminary stages.

Representatives of the privately held company said it was already working to develop a plan that would increase the use of renewable energy and lower electricity bills for the island’s 3,000 residents. It approached the utility as part of its long-term sustainability plans for the island, which is almost entirely owned by entrepreneur Larry Ellison and managed by Pulama Lanai….

….”We want to work with Pulama Lanai and the community to create a path that can enable the island to reach its sustainability goals faster while ensuring equity and fairness for all of its residents,” [per Sharon Suzuki, president of Hawaiian Electric’s Maui County and Hawaii Island utilities. ]

The utility is motivated to get the islands off fossil fuels, wants to work in consultation with the island community, and is cognizant of factors affecting operation, maintenance and HR aspects. It’s possible that Pulama Lanai will contract with Hawaiian Electric for those aspects.

 

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