POSTED: 12:16 p.m. HST, Jan 27, 2014
LAST UPDATED: 12:35 p.m. HST, Jan 27, 2014
A Texas-based energy storage company that provided battery systems for several renewable energy projects in Hawaii has filed for bankruptcy.
The company filed for Chapter 11 bankruptcy last week in U.S. Bankruptcy Court for the Western District of Texas, allowing it to continue operations as it tries to find an acquiring company.
Xtreme Power was contracted to provide battery systems at First Wind's Kaheawa I and Kahuku wind energy projects, the Kauai Island Utility's Koloa solar energy project, and Castle & Cooke's La Ola solar energy project. The Kahuku battery was destroyed by a fire in 2012.
Xtreme Power's core engineering, project development and operations staff will remain in place during the process, the company said in a news release.
"I have no doubt new owners will find Xtreme Power an attractive acquisition, particularly given that we will be free and clear of liabilities," CEO Alan Gotcher said in a written statement.