EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, a leading developer of innovative distributed energy resources (DERs), announced an expansion of the photovoltaic system it is installing on the rooftops of the Aloha Tower Marketplace, which is operated by Hawai'i Pacific University (HPU) under a lease with the State of Hawai'i Aloha Tower Development Corporation. The latest expansion more than doubles the capacity of the photovoltaic (PV) system to 660 kilowatts (kw), making it the largest solar installation in downtown Honolulu upon completion.
EnSync Energy will add 350 kw in PV capacity to the system under a 20-year power purchase agreement (PPA) it signed with HPU and an undisclosed investor. The solar energy will power HPU's revitalized Aloha Tower Marketplace, a mixed-use space featuring university student residences, community spaces, restaurants and shops.
"It's fitting that the largest PV installation in downtown Honolulu is now located at the landmark Aloha Tower Marketplace," said Dan Nordloh, executive vice president of EnSync Energy. "EnSync Energy has an active presence in Hawai'i, so we are particularly proud to deliver even more clean, reliable and low-cost energy to an institution that plays a prominent role in the cultural and economic life of the state."
EnSync Energy designed the system based on customized analysis of Aloha Tower Marketplace's current energy consumption patterns and anticipated future energy needs. After conducting energy and price modelling, EnSync Energy found that a grid-ready PV installation would yield the most savings for the University.
"We look forward to expanding our solar energy system with EnSync Energy, which offered us a simple way to further contribute to the state's renewable energy goals while also reducing our costs," said Bruce Edwards, chief financial officer for HPU. "The solar panels on Aloha Tower Marketplace's rooftops showcase our commitment to clean energy, to our students and to the greater Honolulu community."
Construction of both phases is expected to be completed by early 2019. HPU may consider a third solar installation phase under the terms of the PPA.
EnSync | http://www.ensync.com