Hawaiian Electric proposes state's largest photovoltaic project

• Hawaiian Electric (NYSE:HE) asks state regulators to approve development of a proposed 15 MW photovoltaic system, which would be the state's largest.
• It would be the first PV facility owned and operated by HE, which has selected SolarCity (SCTY) to construct the project on undeveloped land next to its Kahe Generating Station.
• HE says the project could produce electricity at a cost equal to a power purchase agreement with a price of $0.145/kw-hour vs. the $0.227/kw-hour cost of power created by burning fuel.