Parker Ranch recently announced that Parker Ranch Foundation Trust (PRFT) has collaborated with LLC, an associate of NextEra Energy Resources in a partnership agreement. As per the agreement, NextEra Energy Resources will enjoy access rights for a long term to the lands of PRFT and derive renewable energy from the wind resources of PRFT.
Mr. Neil Kuyper, President and CEO of Parker Ranch, stated that they took the decision to partner with NextEra in order to seek different ways of reducing electricity cost incumbent in their community and island by capitalizing on the potential resources of renewable energy available on the lands of the Hawaii Island. Moreover, Parker Ranch is also looking forward to consolidate technical and capital expertise from its partners. According to Mr. Kuyper, after a year of collaborating with NextEra Energy Resources and working on various projects, Parker Ranch has come to believe that the company will be an ideal partner to capitalize on PRFT’s wind resources.
In their endeavor to evaluate alternative strategies for energy usage in the surrounding communities of North Kohala, Waimea and Islands of Hawaii, Parker Ranch, Inc. began an integrated resource planning effort in 2013 in association with companies such as Booz Allen Hamilton, Pace Global and Seimens.
Mr. Kuyper in a recent interview said that their association with Seimens helped them to identify many significant scenarios of the PRFT’s wind resources usage together with storage facilities that could help them to lower electricity rates and reduce their vulnerability fluctuating prices of imported oil. Factors such as reducing the prevalent rates of electricity in Hawaii Islands, cutting down their dependence on oil imports and lowering the rate of carbon emissions are very important to them because the coast of energy used is associated with everything they do.