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Borqs Subsidiary Signs Agreement to Provide Solar + Energy Storage Systems in Hawaii

Borqs Technologies, Inc. a provider of innovative clean energy, announced its solar energy storage subsidiary, Holu Hou Energy LLC, a company providing energy storage systems to the Single-Family Residential, Multi-Dwelling Residential and Commercial building markets, has signed a PPA with Kapolei Diversified Properties to deliver energy to Luhauola, a new mixed-use development in Kapolei, on Oahu, Hawaii.
Borqs Subsidiary Signs Agreement to Provide Solar + Energy Storage Systems in Hawaii
Luhauola Artist Rendering

The property includes 10,000 square feet of commercial space, plus outdoor dining for local food establishments. The residential portion of the property includes 29 workforce housing rental apartments.

Holu Hou Energy will construct the Solar + Energy Storage system utilizing its market leading HoluPower Residential Energy Storage System, combined with the Residential and Commercial scale solar generation. The contract is valued at several million dollars and includes 200KW of PV and 500KWh of energy storage. The system will be placed into service in 2023.

“Our products and services are improving the lives of customers every day by delivering cheaper, cleaner and more reliable electricity, including to those living in Multi-Dwelling Unit residential housing,” stated Brad Hansen, CEO of Holu Hou Energy.

“We look forward to building on our Hawaii leadership position and bringing this same energy independence to markets like California in the near future. The cost of utility electricity in Hawaii has risen by about 60% over the last 18-months, with residential rates being at a historical high of around $0.50/kWh. Reliance on fuel oil for a significant part of Hawaii’s power generation means that these unprecedented rates are not likely to abate soon.

"HHE brings the most safe and productive solar and energy storage solutions to customers, including to those in income brackets not historically able to have their energy needs met by renewables.”

U.S. Energy Information Administration data shows oil generated about two-thirds of Hawaii’s electricity in 2021. That makes Hawaii the most petroleum-dependent state.

“In July of this year, HHE signed agreement with Honokea Villages to deliver a major renewable energy generation and storage system to Honokea’s planned ecological sports training and Hawaiian Cultural facility in their 'ahupua’a', or local community. The development will have Olympic calibre training facilities for surfing, sport climbing, kayaking, beach volleyball, and more, and will serve as tool to celebrate athletics in Hawaii.

"The renewable energy system will feature over 3 MW of PV generation and over 4 MWh of energy storage, enough to power 100% of the operations of the facility, and will be financed under a 20-year power purchase agreement, or PPA. The system provided by HHE will begin construction in 2023 and its value is estimated at nearly $20M. This project is included in the $49.8 million of Q2 2022 signed contracts announced earlier this month,” stated Pat Chan, CEO of Borqs Technologies.

“ESG is becoming increasingly imperative in this global energy crisis. Global warming and dependence on fossil fuel continue to affect the economy and people’s everyday life. Our Holu Hou Energy subsidiary is on track to executing an exciting business plan to grow its market share in Hawaii, one of the states with the highest electricity prices in the U.S., and is actively in discussions with potential customers in California, which is expected to be more than 30 times bigger than the market in Hawaii merely based on residential electricity usage.”

Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).