Honolulu, HISept 16, 2010— Keahole Solar Power, LLC signed a lease agreement with the State of Hawaii, Department of Hawaiian Home Lands (DHHL) for land in Kalaeloa. The land will be used as the home for Hawaii’s largest Concentrating Solar Power project the 5 Megawatt “Kalaeloa Solar One.”

“This partnership is the first renewable energy project for DHHL. It is a result of the departments’ energy policy (H omalu ), demonstrates DHHL’s commitment to a clean energy future and supports the Lingle-Aiona Administration’s Hawaii Clean Energy Initiative,” said Kaulana H.R. Park, Chairman of the Hawaiian Homes Commission. “Kalaeloa Solar One will incorporate the latest generation in solar technology, provide income revenue rent for the department, and a portion of the lease rent proceeds will fund an educational renewable energy program for native Hawaiians. This project will also support the Hawaii economy by creating local jobs on the island of Oahu.”

Concentrating Solar Power is a very unique approach to solar power generation. The technology uses mirrored reflectors and optics to intensify solar energy, which raises the system’s energy efficiency. The solar panels track the sun through-out the day which increases the amount of kilowatt hours the system produces annually and the field includes thermal storage which enables energy to be produced during clouds or at night.

“KSP’s goals are to bring 30 megawatts of solar power to Hawaii by 2015. While very ambitious, we believe the low cost and thermal storage benefits found in Concentrating Solar Power technology are especially good for Hawaii’s ratepayers and the Smart Grid,” said Edward Lui, member of the Board of Directors at Keahole Solar Power.

The project is expected to break ground early 2010 and is estimated for completion by 3rd quarter of 2011.

In 2009, Keahole Solar Power inaugurated “Holaniku at Keahole Point,” Hawaii’s first Concentrating Solar Power. That facility, based on the Big Island of Hawaii, produces 2 megawatts of thermal energy and incorporates 2 hours of thermal energy storage. Energy from Holaniku is sold to the Hawaii Electric Light Company (HELCO) grid under a Power Purchase Agreement approved by the Public Utilities Commission.

About Keahole Solar Power

Keahole Solar Power, LLC (KSP) is an independent clean energy company with three business units: KSP Development, KSP Generation and KSP Innovation. KSP Development is focused on the project development of micro-utility scaled solar farms in the 1-25 megawatt class. KSP Generation is our independent power producer that operates our renewable energy assets. KSP Innovation developed proprietary thermal energy storage, solar plant controls, system operations and has ongoing activities in helping make our solar projects more efficient.

Our goal is to develop 30 megawatts of solar technology in Hawaii by 2015.

For more information, contact: Sheldon Char, Project Executive
schar@kspenergy.com
Phone: (808) 729-2300

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