Hawaiian Electric signs 30-year PPA with Kalaeloa for 208 MW firm capacity

• Hawaiian Electric, a HEI unit, signed a new 30-year power purchase agreement with Kalaeloa Partners on July 27, 2026.
• Contract covers 208 MW of firm capacity starting at commercial operation, replacing an existing arrangement expected to end in early 2033.
• Fixed capacity charge set at $93/kW-year, down from $100/kW-year under the current agreement for the same 208 MW.
• Operations and maintenance pricing reset to a $0.004/kWh variable charge, a $96/kW-year fixed charge, both indexed to GDPIPD.
• Effectiveness hinges on Hawaii PUC sign-off; either party can walk if approval timelines lapse or the request is denied.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. HEI - Hawaiian Electric Industries Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000354707-26-000044), on July 31, 2026, and is solely responsible for the information contained therein.