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Project Summary

Type: Industrial Power Plant Conversion

Status: Renovation, Re-construction, and conversion of a power plant from coal to biomass.

Description: We formed Grandis Ventures I, LLC to provide a $50+ million investment for the conversion of a coal-fired power plant into a 22 megawatt biomass plant known as Hu Honua Bioenergy. The location has been a source of power since the 1880's formerly powering the Pepeekeo Sugar Plantation.

The total project funding to acquire and refurbish the facility is over $140 million. The feedstock necessary for the biomass facility consists primarily of mature production eucalyptus harvested on the island with 5-35 miles of the plant. The plant was designed so that the boiler and all systems are new or refurbished for a life to exceed 30 years. Hawaiian Electric Co., the local utility, has signed a 20-year power purchase agreement to acquire power with contracted revenues of nearly $600 million over the life of the contract. At 22+ megawatts, the plant will provide approximately 10% of the island's base load electricity needs.

Contact: Peter Kleis has been appointed as a director of Hu Honua Bioenergy and is the Manager of Grandis Ventures I, LLC.  www.grandisventures.com






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