Hoku Solar

The Hawaii Department of Transportation operates and maintains 15 airports statewide.

Investment

  • NMTC Amount: $11,700,000
  • Total Project Cost: $18,747,958

IMPACT

  • 3 FTE jobs

Investor

Project Description

The Hawaii Department of Transportation operates and maintains 15 airports statewide. This 903 kW solar PV project has been installed on the rooftops of airport facilities at locations on the islands of Kauai, Maui, and Hawaii. Hoku Solar, Inc., a subsidiary of Hoku Scientific, Inc., installed the systems and is responsible for maintaining the seven installations. Clean solar power began being produced in early 2009, and the electricity generated by the systems is sold to the Hawaii Department of Transportation over a 20-year power purchase agreement. United Fund Advisors structured and closed the transaction, utilizing the Federal Renewable Energy Investment Tax Credit as the primary tool to help finance the project.

MAP

Address: 87801 Hakimo Road, Waianae, HI 96792

Census Tract: 15003011400

PDF Profile

Other Hawaii Projects

The NMTC funding will be used to provide financing that will be used to retain 76 FTE, permanent jobs to support providing healthcare services to more than 6,250 native Hawaiian

The $7.2 million facility will be a gateway for community learning, employment training, and e-commerce business development; and will also provide Internet access, distance learning and technology training.
In December 2003, the Fund invested $250,000 in Hoku Scientific Inc. as part of an approximately $5M round of equity financing.
The Hawaii Department of Transportation operates and maintains 15 airports statewide.