HONOLULU — Hawaii Gas, the state’s only franchised gas utility and largest propane distribution business, will be acquired by Argo Infrastructure Partners, LP (“Argo”), an investor in utility infrastructure with a longstanding track record of sustainable investing.
The transaction is expected to close in the first half of 2022, subject to approval by the Hawaii Public Utilities Commission and other customary conditions.
“Argo seeks to invest in well-managed utilities that are moving us toward a sustainable future,” said Richard Klapow, managing director for the firm. “We fully support the State of Hawaii’s goal of carbon neutrality by 2045 and Hawaii Gas’ contributions to this goal, while continuing to provide safe and reliable energy services to residents and businesses. We are firmly committed to the environmental leadership of the state and Hawaii Gas.”