This is an excerpt from EERE Network News, a weekly electronic newsletter.

January 22, 2003

Hawaiian Electric Launches Renewable Energy Subsidiary

Hawaiian Electric Company (HECO) announced on January 3rd its launch of a new subsidiary that will invest in renewable energy projects for Hawaii. Called Renewable Hawaii, the new subsidiary will be initially capitalized at a level of $10 million. In 2002, HECO and its neighbor island subsidiaries generated 7 percent of their electricity from renewable sources. See the HECO press release.

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