Hawaiian Electric Industries Unit Sells Pacific Current Biomass Plant

Dow Jones2025-03-11

By Sabela Ojea

Hawaiian Electric Industries said its subsidiary Pacific Current, whose $35.2 million impairment drove its third- and fourth-quarter losses, has sold its 60-megawatt energy plant in Hamakua, Hawaii.

The company didn't disclose financial details of the sale of Pacific Current's biomass plant to a subsidiary of Harbert Management, but said the transaction isn't expected to be material to its financial statements.

The sale of the plant is a key step in the company's continuing review of strategic options for Pacific Current, which builds local partnerships and invests in clean energy.

In November, Hawaiian Electric said it was conducting a comprehensive review of strategic options for Pacific Current.

The company then said that it didn't have a timetable for its review and that it was possible no action would be taken as a result of the evaluation.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

March 10, 2025 18:49 ET (22:49 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2518220784?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-03-11 06:49","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2518220784","market":"sg","top_or_hot":-1,"title":"Hawaiian Electric Industries Unit Sells Pacific Current Biomass Plant","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Hawaiian Electric Industries said its subsidiary Pacific Current, whose $35.2 million impairment drove its third- and fourth-quarter losses, has sold its 60-megawatt energy plant in Hamakua, Hawaii. \n</p>\n<p>\n  The company didn't disclose financial details of the sale of Pacific Current's biomass plant to a subsidiary of Harbert Management, but said the transaction isn't expected to be material to its financial statements. \n</p>\n<p>\n  The sale of the plant is a key step in the company's continuing review of strategic options for Pacific Current, which builds local partnerships and invests in clean energy. \n</p>\n<p>\n  In November, Hawaiian Electric said it was conducting a comprehensive review of strategic options for Pacific Current. \n</p>\n<p>\n  The company then said that it didn't have a timetable for its review and that it was possible no action would be taken as a result of the evaluation. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 10, 2025 18:49 ET (22:49 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hawaiian Electric Industries Unit Sells Pacific Current Biomass Plant</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHawaiian Electric Industries Unit Sells Pacific Current Biomass Plant\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-03-11 06:49</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Hawaiian Electric Industries said its subsidiary Pacific Current, whose $35.2 million impairment drove its third- and fourth-quarter losses, has sold its 60-megawatt energy plant in Hamakua, Hawaii. \n</p>\n<p>\n  The company didn't disclose financial details of the sale of Pacific Current's biomass plant to a subsidiary of Harbert Management, but said the transaction isn't expected to be material to its financial statements. \n</p>\n<p>\n  The sale of the plant is a key step in the company's continuing review of strategic options for Pacific Current, which builds local partnerships and invests in clean energy. \n</p>\n<p>\n  In November, Hawaiian Electric said it was conducting a comprehensive review of strategic options for Pacific Current. \n</p>\n<p>\n  The company then said that it didn't have a timetable for its review and that it was possible no action would be taken as a result of the evaluation. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 10, 2025 18:49 ET (22:49 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HE","symbol_name":"夏威夷电力","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2518220784","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2518220784","pubTimestamp":1741646940,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Hawaiian Electric Industries said its subsidiary Pacific Current, whose $35.2 million impairment drove its third- and fourth-quarter losses, has sold its 60-megawatt energy plant in Hamakua, Hawaii.The company didn't disclose financial details of the sale of Pacific Current's biomass plant to a subsidiary of Harbert Management, but said the transaction isn't expected to be material to its financial statements.The sale of the plant is a key step in the company's continuing review of strategic options for Pacific Current, which builds local partnerships and invests in clean energy.In November, Hawaiian Electric said it was conducting a comprehensive review of strategic options for Pacific Current.The company then said that it didn't have a timetable for its review and that it was possible no action would be taken as a result of the evaluation.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"HE":"夏威夷电力","BK4081":"电力公用事业"},"translate_title":"夏威夷电力工业部门出售太平洋洋流生物质发电厂","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HE":1},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Hawaiian Electric Industries said its subsidiary Pacific Current, whose $35.2 million impairment drove its third- and fourth-quarter losses, has sold its 60-megawatt energy plant in Hamakua, Hawaii. \n\n\n  The company didn't disclose financial details of the sale of Pacific Current's biomass plant to a subsidiary of Harbert Management, but said the transaction isn't expected to be material to its financial statements. \n\n\n  The sale of the plant is a key step in the company's continuing review of strategic options for Pacific Current, which builds local partnerships and invests in clean energy. \n\n\n  In November, Hawaiian Electric said it was conducting a comprehensive review of strategic options for Pacific Current. \n\n\n  The company then said that it didn't have a timetable for its review and that it was possible no action would be taken as a result of the evaluation. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 10, 2025 18:49 ET (22:49 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.13","shortVersion":"4.35.13","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2518220784","isCrawlerRequest":true}