Installation will deliver affordable clean energy to Hawai'i Pacific University's not-for-profit aquaculture research center
HONOLULU, Nov. 12, 2018 /PRNewswire/ -- EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, which is creating the future of electricity with innovative residential and commercial distributed energy resource (DER) systems and Internet of Energy (IOE) control platforms, today announced the sale of a 20-year power purchase agreement (PPA) with Hawai'i Pacific University (HPU) to build a solar energy system for its affiliate not-for-profit, the Oceanic Institute, in Oahu.
The agreement will finance a 211-kilowatt (kW) photovoltaic (PV) system on four buildings. With construction underway, the company expects operations to begin early next year.
The Oceanic Institute is an applied aquaculture research facility that supports the development of more efficient and productive farming methods in controlled underwater habitats. The Institute was in search of low-cost, reliable electricity to meet its mission-critical energy needs for functions such as constant water pumping.
HPU and EnSync Energy's other collaboration — a 660-kW PV system on the rooftop of the historic Aloha Tower Marketplace — is the largest solar development in downtown Honolulu. The first phase of that project is operational and supplying energy to the mixed-use university space, while the second phase is under construction.
EnSync Energy has contracted 27 commercial projects in Hawaii, which will account for more than $42.8 million in electricity sales over the terms of the agreements.
About EnSync Energy Systems
EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, is creating the future of electricity with innovative distributed energy resource (DER) systems and Internet of Energy (IOE) control platforms. EnSync Energy ensures the most cost-effective and resilient electricity, delivered from an electrical infrastructure that prioritizes the use of all available resources, such as renewables, energy storage and the utility grid. As project developer, EnSync Energy's distinctive engagement methodology encompasses load analysis, system design consulting and technical and financial modeling to ensure energy systems are sized and optimized to meet our customers' objectives for value and performance. Proprietary direct current (DC) power control hardware, energy management software and extensive experience with numerous energy storage technologies uniquely positions EnSync Energy to deliver fully integrated systems that provide for efficient design, procurement, commissioning and ongoing operation. EnSync Energy's IOE control platform adapts easily to ever-changing generation and load variables, as well as changes in utility prices and programs, ensuring the means to make or save money behind-the-meter, while concurrently providing utilities the opportunity to use DERs for an array of grid-enhancing services. In addition to direct system sales, EnSync Energy includes power purchase agreements (PPAs) in its portfolio of offerings, which enables electricity savings for customers and provides a stable financial yield for investors. EnSync Energy is a global corporation, with joint venture Meineng Energy in AnHui, China and energy project development subsidiary Holu Energy LLC in Hawaii. For more information, visit www.ensync.com.
About Hawai'i Pacific University
Founded in 1965, Hawai'i Pacific University has grown to become the state's leading private, non-profit university, with a student population of nearly 5,000 undergraduate and graduate students from all 50 states and nearly 65 countries around the world. It has campuses in downtown Honolulu, Kāne'ohe, and Makapu'u, and on military bases around O'ahu. The Chronicle of Higher Education, The Wall Street Journal and USA Today have named it among the most diverse private universities in the nation. www.HPU.edu
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