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HONOLULU - A unit of Hoku Scientific Inc. said Monday it will sell electricity generated by a soon-to-be-built solar power system to a Hawaiian ocean cargo company.
| HOKU | 0 |  -5.55 |
Hoku Solar Inc. will build, own and operate a 224-kilowatt solar power system of about 25,000 square feet on the roof of Young Brothers' Honolulu port facility. Hoku said a 224-kilowatt system is enough to power about 800 homes.
Young Brothers, in turn, will buy electricity from Hoku over a 20-year period.
Financial terms of the deal, which is expected to offset more than 4,000 tons of carbon dioxide emissions, were not disclosed.
Construction is expected to be complete this year, subject to Hoku obtaining third-party financing for the venture.
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