Kauai utility seeks approval to go solar

Kauai Island Utility Cooperative said Wednesday it plans to develop a 10-megawatt photovoltaic project that would be the largest solar power facility in the state.

The KIUC is seeking approval from the U.S. Department of Agriculture’s Rural Utilities Service to pay for the PV and battery storage project with a $68 million federal loan that was previously earmarked for construction of an oil-fired, 10-megawatt combustion turbine generator.

To qualify for state and federal tax incentives, the nonprofit KIUC has formed a new for-profit subsidiary to develop the project. The for-profit unit is necessary because KIUC as a tax-exempt cooperative does not qualify for the state or federal state incentives.

A majority of KIUC’s generation today still comes from fossil fuels, but the utility has recently expanded its portfolio of renewable technologies. KIUC now has 17 megawatts of solar and biomass-fired generation projects under power purchase agreements. KIUC also is considering the installation of about 35 megawatts of hydroelectric power.

Patent issued for isle company’s fish cage

Hawaii Oceanic Technology Inc. said Wednesday it has received a U.S. patent for a spherical fish cage that it plans to use in the open ocean to raise bigeye and yellowfin tuna.

Bill Spencer, chief executive officer, said he hopes to have the first "Oceansphere" in place off the coast of Hawaii island within two years. The company also plans to sell and license Oceanspheres globally, Spencer said.

"The goal of the company is to demonstrate new fish farming technology that allows pelagic species such as tuna to be grown in deep ocean waters where constant currents and large volumes of clean water assure fish health and rapid mineralization of effluents," Spencer said.

Each Oceansphere will have a diameter of about 50 yards. The company has permits and approval for 12 of the cages on a 247-acre fish farm 2.6 miles off of the North Kohala coast, he said. Spencer estimated the farm will produce 6,000 tons of tuna per year. The fish will be marketed as "King Ahi," he said.

Shellfish hatchery gets new part-owner

A 50 percent interest in Kona Coast Shellfish LLC has been acquired by Oregon-based Pacific Seafood Group through its purchase of Coast Seafoods Co. of Washington state. Kona Coast had been partially owned by Coast Seafoods.

Kona Coast Shellfish operates a hatchery at the Natural Energy Laboratory of Hawaii that produces Pacific oyster and Manila clam larvae that are sent to the shellfish farms of affiliates.

According to a Pacific Seafood statement, the transaction, for which terms were not disclosed, also included the Coast Seafoods sales office in Bellevue, Wash., Quilcene Hatchery in Quilcene, Wash., and farming operations in Willapa Bay and Grays Harbor, Wash., and Humboldt Bay in California.

Pacific Seafood will benefit from Coast Seafoods’ history in the oyster and clam industry, said Frank Dulcich, Pacific owner and CEO.

Honda slashing exports from Japan

TOKYO » Honda Motor Co., Japan’s third-largest automaker, plans to reduce exports to as little as 10 percent of domestic production as the strong yen erodes earnings from overseas shipments.

Honda aims to sell 80 percent to 90 percent of Japan-made vehicles in its home market, Tomoko Uchida, a spokeswoman for the Tokyo-based company, said by phone. Last year, the carmaker shipped 310,254 vehicles, or 34 percent of its domestic output of 912,307 units, overseas.

Japanese carmakers including Honda, Toyota Motor Corp. and Nissan Motor Co. are moving more production out of Japan to counter the effect of the strong yen.

Monsanto reports fourth-quarter loss

ST. LOUIS » Monsanto Co. reported a fiscal fourth-quarter loss that beat Wall Street expectations on Wednesday and said that it must restate the past two years’ earnings because of a federal investigation into its herbicide sales.

Investors focused on Monsanto’s stronger corn seed sales, which rose 58 percent from last year, and on its pledge Wednesday to deliver earnings growth in the mid-teens.

The world’s biggest seed company said that a probe by the Securities and Exchange Commission prompted it to restate earnings due to incentives it paid dealers of its Roundup Herbicide. The investigation is ongoing, and Monsanto is making the changes voluntarily.

The earnings restatement news came as Monsanto said sales of its corn and soybean seeds have been strong.

ON THE MOVE

Central Pacific Bank has appointed LiLi Hallett as a vice president and staffing and employment relations manager. She has more than 15 years of human resources experience.

SMEI has announced the appointment of Naomi Kanna as executive director. Her responsibilities include office, membership, financial administration activities, monthly membership meetings planning, project/special events and attending various SMEI- related events.

Safeway Hawaii Foundation Scholarship Fund has awarded $1,000 scholarships to each of 10 Hawaii students, who are planning to attend a college or university in Hawaii. The recipients are: Leischene Calingangan, Kiara Bernaldes-Kaiwi, Kristine Castillo, Stephanie Kawamura, Kananaikahaku Kuhaulua, Kaitlin Viernes, Chelsea Yamase, Palika Bell Cockett, Kyla Wayas and Therese Oriola.

D.R. Horton-Schuler Division has donated school supplies for more than 900 students at Maili Elementary School as well as a $5,000 check for its Read-to-Win program.