Hawaiian Electric signs new Kalaeloa power purchase deal with lower capacity charge
On July 27, 2026, Hawaiian Electric Company and Kalaeloa Partners entered a new power purchase agreement for 208 megawatts of firm capacity over a 30-year term after commercial operation, replacing the October 2021 agreement that is expected to end in early 2033. The fixed capacity charge falls to $93 per kilowatt per year from $100, and the deal lets Kalaeloa repower the plant to burn other fuels and produce renewable-qualifying energy. The agreement takes effect only after the Hawaii Public Utilities Commission approves it.
Key points
- New PPA signed July 27, 2026, for 208 MW of firm capacity over a 30-year term after commercial operation
- Fixed capacity charge reduced to $93/kW per year from $100/kW per year under the Amended and Restated PPA
- Effectiveness depends on PUC approval; either party may void the agreement if approval is not received within 12 months of the application, subject to conditions
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 31, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.