South Korea’s Hanwha Energy Corp. said Tuesday it clinched the Kupehau Solar Project to build a solar-storage plant in Hawaii.

The project, commissioned by the Hawaii Electric Power Corporation, is to install power plant facilities of 60-megawatt solar energy generation and 240-megawatt-hour of energy storage on the island of Oahu in Hawaii.

Construction is scheduled to be completed by 2023, with Hanwha Energy to own the operational rights for 20 years. The financial terms of the deal were not disclosed.

The finished plant would be able to power 80,000 households annually, the company said.

The project would be carried out by Hanwha Energy’s subsidiary 174 Power Global, which would oversee the entire process from development and construction to financing and operation.

The deal is part of the Hawaii government’s goal to obtain all of its electricity from renewable sources by 2045.

“This project has given Hanwha Energy a firm foothold into the U.S. renewable market,” said Jung In-sub, chief executive of Hanwha Energy. “We plan to build on this experience to expand our market position in the U.S. and further our businesses.”

By Pulse

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