NextEra Energy Inc. is taking its business elsewhere.
The Florida company filed this week to withdraw from three energy projects in Hawaii after the state rejected its proposed purchase of Hawaii’s largest electrical utility.
On Wednesday, NextEra told the state Public Utilities Commission it no longer plans to participate in:
>> Plans for an Oahu-
Maui interisland transmission system.
>> A proposed 200-megawatt wind project with Castle &Cooke LLC on Lanai.
>> Hawaiian Electric Utilities’ 30-year power-supply plan.
NextEra said it was pulling out of the projects because the PUC rejected its purchase of HEI.
“Consequently, (NextEra) no longer intends to participate in this proceeding,” the company said in all three of the filings.
In a 2-0 vote on July 15, the PUC rejected NextEra’s $4.3 billion proposed purchase of HEI. On Monday, NextEra and HEI announced the merger contract was terminated. When announcing the ended agreement, NextEra said it will pay HEI $95 million in “breakup” fees and other costs. In a separate announcement, HEI said that after taxes the company will gain $60 million from the breakup fees and costs, which “will help to fund Hawaii’s clean energy transformation.”
NextEra declined Friday to say whether it plans to continue doing business in Hawaii in any form.
“We’re not offering any comments regarding the merger or any other related topics,” said Rob Gould, NextEra spokesman.
During the 19-month review of NextEra’s proposed purchase of HEI, NextEra was involved in drafting 30-year power plans that HEI’s utility subsidiaries filed with the PUC. The plans outlined how Hawaiian Electric Co., Maui Electric Co. and Hawaii Electric Light Co. would reach 100 percent renewable-energy dependence by 2045.
The utilities submitted two versions of plans, one of which included NextEra as the owner and used liquefied natural gas for power generation.
HECO ended its contract Tuesday to bring liquefied natural gas into the state. HECO said it canceled the contract due to the termination of the proposed merger with NextEra.
In the 30-year power plans, HECO said Oahu needs additional resources beyond what is available on the island. HECO said that could mean a cable connecting the islands to transmit renewable energy to Oahu.
Before NextEra announced in December 2014 it was interested in purchasing Hawaii’s electrical utility, NextEra Energy Transmission was looking to build an undersea power cable connecting Maui to Oahu in 2013. The company spent more than $10 million assembling a team, acquiring site control, developing viable cable routes and undertaking preliminary engineering studies. The undersea cable is still awaiting a decision from the PUC.
NextEra had been participating in a review opened in 2013 of a proposed 200-megawatt wind project with Castle &Cooke LLC on Lanai.
Castle &Cooke LLC declined to comment Friday.
Now that the company has withdrawn from the three reviews, one of the only Hawaii energy projects NextEra is still involved in is a plan to build solar facilities for the military.
NextEra Energy Resources said in December it plans to build roughly 17 megawatts of solar facilities at three separate military installations on Oahu. All of the power is being purchased by the Navy under a 25-year power purchase agreement.