March 28, 2016
Five Native Hawaiian Organizations Announce Support of Proposed Merger of NextEra Energy and Hawaiian Electric Industries
HONOLULU and JUNO BEACH, Fla., March 28, 2016 /PRNewswire/ -- NextEra Energy Inc. (NYSE: NEE) and Hawaiian Electric Industries (NYSE: HE) today announced that their proposed merger has gained the support of five Native Hawaiian organizations.
These organizations include the Native Hawaiian Chamber of Commerce, Native Hawaiian Hospitality Association, Imua Hawaii, Sovereign Councils of the Hawaiian Homelands Assembly and King Kamehameha Hawaiian Civic Club.
"We are extremely pleased that these prominent organizations representing the Hawaiian community have concluded that our merger is in the best interest of Hawaii," said Eric Gleason, president of NextEra Energy, Hawaii. "We very much appreciate the endorsement these groups have announced today and reaffirm our commitment to helping accelerate Hawaii's 100 percent renewable energy future."
With today's announcement, more than 70 groups and organizations have expressed support for the pending merger of the two companies.
"The missions of these organizations reflect the deep cultural values of our islands and their support is a significant endorsement," said Alan Oshima, Hawaiian Electric president and CEO. "Partnering with NextEra Energy, we're committed to living up to those values for Hawaii."
The merger will provide for greater investment in Hawaii's electric grid, paving the way for more renewable energy. NextEra Energy brings a powerful combination of renewable energy experience, technological know-how and financial strength necessary for developing modern smart grids, achieving Hawaii's 100 percent renewable portfolio standard by 2045 and delivering both short- and long-term cost benefits to customers.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $17.5 billion, approximately 46,400 megawatts of generating capacity, which includes megawatts associated with noncontrolling interests related to NextEra Energy Partners, LP (NYSE: NEP), and approximately 14,300 employees in 27 states and Canada as of year-end 2015. Headquartered in Juno Beach, Fla., NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves more than 4.8 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. A Fortune 200 company and included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune's 2016 list of "World's Most Admired Companies." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com
Hawaiian Electric Company
Hawaiian Electric and its subsidiaries, Maui Electric and Hawaii Electric Light, serve the islands of O'ahu, Maui, Lāna'i, Moloka'i and Hawaii, home to 95 percent of the population of Hawaii. Hawaiian Electric's parent company is Hawaiian Electric Industries (NYSE: HE), which has been named one of "America's 100 Most Trustworthy Companies 2015" by Forbes.
In a changing world, the Hawaiian Electric Companies are taking the lead in adding renewable energy and developing energy solutions for their customers to achieve a clean energy future for Hawaii. For more information, visit www.hawaiianelectric.com.
NextEra Energy Contacts
Hawaiian Electric Company Contact
Hawaiian Electric Industries Contact