HANAPEPE — The Ka‘ie‘ie Waho Company, a subsidiary of Pacific Current, acquired Kaua‘i’s Port Allen Solar Facility in part to decrease the state’s dependence on the tourism industry.
With the state of Hawai’i experiencing financial attrition from the coronavirus pandemic, creating a self-sustaining industry has become a focal point for the island, according to Scott Valentino, president of Pacific Current.
“In pursuit of our goals, we are supporting a more resilient and sustainable Hawai’i,” Valentino said. “This also gives us an excellent opportunity to deepen our partnership with Kaua’i Island Utility Cooperative.”
The acquisition of Port Allen allows them to increase their involvement with the community of Kaua’i.
During this acquisition, Ka‘ie‘ie Waho Company will maintain its commitment to hiring local employees.
“This transaction means that the Port Allen solar facility will continue to be managed locally — which is important in an era when energy facilities are owned by entities located far from the communities in which they operate,” Valentino said. “We are a local company, and our work goes back into supporting the local economy.”
Expanding the brand
An example of the expansion is Pacific Current’s existing venture with EverCharge, which is bringing a fully managed, scalable electric vehicle charging solution to apartments, condominiums, workplaces and fleet customers through power optimization.
Another new partnership Pacific current is forming is with Cambrian Innovation, a company solving critical water, wastewater and energy management challenges for industrial producers, and were recently selected by Elemental Excelerator to be a part of the new cohort.
Solar energy, which became a fad in the early 1980s, has continued to see an increase in consumer and commercial use throughout the decades, according to Valentino.
Creating a sustainable energy source
According to Valentino, Pacific Current is looking at the word “sustainability” holistically as it crosses multiple sectors, including energy, agriculture, transportation and water.
The company continues to explore opportunities outside of energy in transportation, wastewater management and agriculture infrastructure.
“The adoption of solar energy in the state has been widespread across residential areas, businesses and utility-scale projects,” Valentino said. Solar installations have increased year over year across the state, and rooftop solar is a critical piece of the renewable mix.”
A recent shift in the industry has corporations measuring the sustainability and societal impact of investments and ventures through an Environmental, Social and Corporate Governance (ESG) lens.
“In line with our strategy to support a more resilient and sustainable Hawai‘i, we are thankful for the opportunity to continue the operation of this important source of renewable energy to Kaua‘i residents,” Valentino said. Port Allen Solar will continue to power nearly 900 homes on Kaua’i, offsetting more than 18,000 imported barrels of oil to the island per year.”