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Hawaiian Electric Industries, Inc. Reaches $4 Billion Agreement to Settle Maui Wildfire Tort Claims

Aug 03, 2024•almost 2 years ago

Contract Type

agreement

HawaiiManufacturingEnergy

Description

Hawaiian Electric Industries, Inc. (HEI) and its subsidiary, Hawaiian Electric Company, Inc. (Hawaiian Electric), along with other parties, have reached an agreement in principle to settle all tort claims related to the August 2023 wildfires on Maui. The proposed settlement, subject to final documentation and court approval, would involve a total payment of over $4 billion, with HEI and Hawaiian Electric contributing $1.99 billion, including a previous $75 million contribution for the One ʻOhana Initiative.

Company Information

Company

Pacific Current

Location

Hawaii, United States

About

Pacific Current, LLC is a subsidiary of Hawaiian Electric Industries, Inc., focusing on advancing Hawaii's sustainability goals through non-regulated energy services. It plays a key role in the economic activities of Hawaii and supports the transition to renewable energy. Pacific Current operates various energy facilities across the islands.

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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