A subsidiary of NextEra Energy Resources will build, own and operate the project, which includes 61,000 fixed PV panels.
NextEra responded to a February 2013 Hawaiian Electric request for proposals or renewable energy projects on Oahu at a levelized cost of energy generally below 17 cents per kWh. The utility did not divulge the actual price in the proposed deal.
Hawaiian Electric expects La La Nui to be in service by the end of 2016, which is when the federal investment tax credit is scheduled to decline from 30% to 10% for eligible projects.
