Ensync Energy Sells 20-Yr PPA with HPU to Undisclosed Investor

This long-term agreement is expected to bring clean, affordable energy to Aloha Tower Marketplace.

EnSync Energy Systems has sold its 20-year Power Purchase Agreement (PPA) with Hawai’I Pacific University (HPU) to an undisclosed investor.

This long-term agreement is expected to bring clean, affordable energy to Aloha Tower Marketplace.

Further, the PPA will provide HPU’s Aloha Tower Marketplace with a total photovoltaic (PV) system capacity of 660 KW, making it the largest set of solar installations in downtown Honolulu upon completion.

“Hawaii is firmly committed to the clean energy transition, and we’re proud to contribute to the state’s ambitious goals with technology and financing that make it easy,” said Dan Nordloh, Executive Vice President, EnSync Energy.

Nordloh further added that, “This PPA will deliver cost savings and reliable energy to the University and Aloha Tower Marketplace’s many residents and visitors.”

First constructed in 1926, the iconic Aloha Tower now anchors a mixed-use development of university student residences, community spaces, administrative offices and restaurants.

The Phase 1 PPA was first commissioned in July 2017 for an initial installation of a 310 kw PV system.

The company has recently announced the expansion of Phase 2 of 350 KW in solar capacity to the system. The terms of the PPA provide HPU flexibility for a third phase, if desired.

The company has contracted 25 commercial projects in Hawaii, which will account for more than $35 million in electricity sales over the terms of the agreements.

Meanwhile, construction of both the phases for Aloha Tower Marketplace is expected to be completed by early 2019.