NextEra’s $4.3B Acquisition of HEI Opposed by Hawaii State Agencies, Governor
Last month, the proposed $4.3 billion NextEra Energy acquisition of Hawaii’s electric utility HEI was approved by utility shareholders. In April, the Federal Energy Regulatory Commission approved the proposed acquisition.
But the big hurdle is Hawaii’s Public Utilities Commission (PUC).
The acquisition still requires approval by the PUC which is accepting comment from “intervenors” including AES Hawaii (coal plant owner and operator), Blue Planet Foundation, Hawaii Gas, Ka Lei Maile Alii Hawaiian Civic Club, SunPower, SunEdison, Hawaii Island Energy Cooperative, Kauai Island Utility Cooperative, Puna Pono Alliance, The Alliance for Solar Choice, and the Department of Defense.
According to the Hawaii Star Advertiser, “two state agencies — the Office of Planning and the Department of Business, Economic Development and Tourism” are claiming that the sale, as now structured, “should not be approved.” Both state agencies are part of the group of 28 intervenors, several of which have also expressed reservations about the deal.