NextEra Energy Inc. and Hawaiian Electric Industries said Monday five Native Hawaiian groups have come out in support of NextEra’s proposed $4.3 billion buyout of the state’s largest electrical utility.
The companies said the Native Hawaiian Chamber of Commerce, the Native Hawaiian Hospitality Association, Imua Hawaii, the Sovereign Councils of the Hawaiian Homelands Assembly and the King Kamehameha Hawaiian Civic Club join a tally of nearly 70 organizations that support the proposed sale. The sale is currently under review by the state Public Utilities Commission. The PUC’s stamp of approval is required for the deal to close.
Deborah Ho‘okano Nishijo, president of the Native Hawaiian Chamber of Commerce, said the chamber supports NextEra’s proposed buyout of HEI because it ensures proper investments in Hawaii’s future.
“This merger is the right direction for a clean energy future,” Ho‘okano Nishijo said in a news release. “We have been carefully listening to the PUC hearings and various opinions regarding this merger and believe it is time for us to make our voice known.”
NextEra’s openness to collaborate with local groups combined with the Florida-based company’s resources create a valuable asset for Hawaii’s future, Ho‘okano Nishijo said.
“NextEra Energy has allowed native Hawaiian voices to be heard,” she said. “It’s valuable for everyone when a mainland company not only brings their expertise and resources to Hawaii, but looks to native Hawaiians for understanding and clarity on the values we hold and the way we do business together.”
Ho‘okano Nishijo said NextEra’s commitment to support local organizations and maintain corporate giving of at least $2.2 million annually are additional reasons she views the acquisition to be valuable to Hawaii’s future.
EXECUTIVES at the companies said they were grateful for the support.
“The missions of these organizations reflect the deep cultural values of our islands, and their support is a significant endorsement,” said Alan Oshima, Hawaiian Electric Co. president and CEO. “Partnering with NextEra Energy, we’re committed to living up to those values for Hawaii.”
“We are humbled to have the endorsement of the Native Hawaiian Chamber of Commerce,” said Eric Gleason, president of NextEra Energy Hawaii. “We take very seriously our responsibility to invest on behalf of future generations and look forward to helping Hawaii accelerate its 100 percent renewable energy future.”
The groups join other local chambers of commerce, businesses and unions that support the potential sale, such as the Molokai Chamber of Commerce, the International Brotherhood of Electrical Workers Local 1260, L&L Hawaiian Barbecue, Makai Ocean Engineering, Nalo Farms and Stanford Carr Development.
THE DEAL has also attracted opponents since NextEra and HEI announced the potential merger in December 2014.
A record number of groups requested to be a part of the PUC review process, with 25 groups now involved — the majority of those groups are opposed to NextEra’s current proposal.
Those opposed to the sale include environmental activists, clean-energy organizations, local solar companies and politicians. Gov. David Ige has said he is against the sale.
The sales contract between HEI and NextEra expires June 3. At that time either party can terminate the deal. According to the contract, NextEra has to pay HEI $90 million if the company fails to get regulatory approval.