Progression Hawaii Offshore Wind Inc, a company formed by Progression Energy from Oregon and several investors, plans to submit a lease application to the U.S. Bureau of Ocean Energy Management for a 400MW wind project off Hawaii, Pacific Business News reported.
The USD 1.6 billion (EUR 1.4 billion) offshore wind farm, for which the equity support has already been secured, would be installed 16km southeast of Barbers Point in West Oahu.
The team behind the project has been working on it for three years and initially there were five sites designated as potential offshore wind farm locations, but after the feedback from stakeholder meetings, the developers narrowed it down to only one.
In May, Hawaii State Legislature passed a bill that sets the state on course towards being fully powered by renewable energy. The bill increases renewable portfolio standards to 30 percent by December 31, 2020, 70 percent by December 31, 2040, and 100 percent by December 31, 2045.
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