November 10, 2021: ENGIE North America notified Hawaiian Electric Company on October 25 that it had decided to abandon the Puako solar and storage project — this means that New HOrizons Ahead (better known as NHOA) will not install a 240MWh battery storage facility in Hawaii.
At the time the contract was awarded — in May 2020 — NHOA was still majority-owned by ENGIE and known under its former name, Engie EPS. A 60.5% stake in the company was sold to Taiwan Cement Corporation for just over $150 million with the deal completed this July.
NHOA said it “will consider, in coordination with its majority shareholder, the Taiwan Cement Corporation, the legal implications to NHOA and TCC of ENGIE’s decision, in light of the assurances given in the past by ENGIE to NHOA’s board of directors and TCC at the time of the acquisition by TCC of ENGIE’s majority stake in NHOA.”
ENGIE North America said the reason was due “to elevated interconnection costs coupled with global supply chain and production issues, as well as tariffs and trade disputes specifically affecting the photovoltaic solar industry.”
NHOA said it was “obviously disappointed with ENGIE’s decision, and takes this opportunity to clarify that the production issues mentioned by ENGIE are in no way related to NHOA’s technology nor scope of supply.”