00003547070000046207falsefalse00003547072023-12-112023-12-110000354707he:HawaiianElectricCompanyInc.Member2023-12-112023-12-11

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: December 11, 2023
Exact Name of RegistrantCommissionI.R.S. Employer
as Specified in Its CharterFile NumberIdentification No.
Hawaiian Electric Industries, Inc.1-850399-0208097
Hawaiian Electric Company, Inc.1-495599-0040500
State of Hawaii
(State or other jurisdiction of incorporation)
 1001 Bishop Street, Suite 2900, Honolulu, Hawaii  96813 - Hawaiian Electric Industries, Inc. (HEI)
1099 Alakea Street, Suite 2200, Honolulu, Hawaii  96813 - Hawaiian Electric Company, Inc. (Hawaiian Electric)
(Address of principal executive offices and zip code)
 Registrant’s telephone number, including area code:
 (808) 543-5662 - HEI
(808) 543-7771 - Hawaiian Electric
  Not applicable
(Former name or former address, if changed since last report.)
  Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to 12(b) of the Act:
RegistrantTitle of each classTrading Symbol(s)Name of each exchange on which registered
Hawaiian Electric Industries, Inc.Common Stock, Without Par ValueHENew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule12b-2 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
Hawaiian Electric Industries, Inc.
☐
Hawaiian Electric Company, Inc.
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Hawaiian Electric Industries, Inc. ☐Hawaiian Electric Company, Inc. ☐


Item 7.01 Regulation FD Disclosure.
On December 11, 2023, Hawaiian Electric Company, Inc. issued the news release, "Hawaiian Electric's Waiau repower project selected," furnished as Exhibit 99 to this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits
Hawaiian Electric's Waiau repower project selected
104Cover Page Interactive Data File (embedded within the Inline XBRL document)

The information furnished in connection with this current report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.




1


SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. The signature of the undersigned companies shall be deemed to relate only to matters having reference to such companies and any subsidiaries thereof.

HAWAIIAN ELECTRIC INDUSTRIES, INC.HAWAIIAN ELECTRIC COMPANY, INC.
(Registrant)(Registrant)
/s/ Scott T. DeGhetto/s/ Paul K. Ito
Scott T. DeGhettoPaul K. Ito
Executive Vice President, Senior Vice President,
Chief Financial Officer and TreasurerChief Financial Officer and Treasurer
Date: December 11, 2023Date: December 11, 2023
2


Exhibit 99

helogoa.jpg

NEWS RELEASE
CONTACT: Jim Kelly, 808.543.4915
                    jim.kelly@hawaiianelectric.com    
FOR IMMEDIATE RELEASE

Hawaiian Electric’s Waiau repower project selected
Efficient new technology will replace units built between 1947 and 1968


HONOLULU, Dec. 11, 2023 – Hawaiian Electric’s proposal to replace six aging fossil-fuel generators at its Waiau Power Plant in Pearl City with more efficient, fuel-flexible units has been selected to advance to the next stage of an energy procurement process overseen by the Public Utilities Commission (PUC).

The 253-megawatt project was one of several selected as part of a competitive procurement process for firm renewable generation on Oʻahu. This firm renewable generation resource will be available 24/7, is flexible to meet the needs of a modern grid using solar and wind and can run on renewable biofuels. The proposed repowering of the Waiau facility will be the largest generation project in Hawaiian Electric’s 132-year history.

“Our obligation is to reliably serve Oʻahu customers for the coming decades while also transitioning to cleaner renewable fuels and this is a unique, cost-effective opportunity to upgrade existing infrastructure with minimal impact to the community,” said Michael DeCaprio, Hawaiian Electric’s vice president of power supply.

The project still requires final approval by the PUC. Details on the price of the project and estimated cost to customers will be made available when the company files its application for approval. Because maintenance and repair costs for the older units will be eliminated, and because the new units are more efficient and will run less frequently, significant savings are expected over 30 years compared to the cost of continuing to run and repair the aging units.

The six new units are combustion turbines or CTs, which are similar to jet engines that turn turbines at high speeds to generate electricity. They are intended to support generation resources, including variable renewable energy like wind, solar and battery storage, when they are unavailable or unable to meet system demand. At approximately 42 megawatts, each CT unit is smaller and more efficient than the oil-fired steam boiler it will replace, and each can respond quickly to fluctuations on the electric grid. Initially, the CTs will use biodiesel and can potentially use renewable gas or hydrogen when it becomes commercially available.

Waiau Units 3 and 4, aged 76 and 73 years respectively and scheduled to be retired in 2024, will be the first units to be replaced with the new technology over the next several years with an expected in-service date of 2029.

- more -


Hawaiian ElectricPO BOX 2750, HONOLULU, HI 96840-0001
Hawaiian Electric's Waiau Repower
project selected
Page 2 of 2
Dec. 11, 2023




The other four units, which came into service between 1959 and 1968, will be replaced in phases with all units expected to be online by 2033.

To learn more, visit hawaiianelectric.com/waiaurepower.

# # #

picture1a.jpg
Above: Rendering of proposed Waiau Repower project, subject to change, when all six new units are in service. Image courtesy of Hawaiian Electric.



FOLLOW US FOR THE LATEST:
mediaa.jpg
Hawaiian ElectricPO BOX 2750, HONOLULU, HI 96840-0001
v3.23.3
Cover
Dec. 11, 2023
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Dec. 11, 2023
Entity Registrant Name Hawaiian Electric Industries, Inc.
Entity File Number 1-8503
Entity Tax Identification Number 99-0208097
Entity Incorporation, State or Country Code HI
Entity Address, Address Line One 1001 Bishop Street, Suite 2900
Entity Address, City or Town Honolulu
Entity Address, State or Province HI
Entity Address, Postal Zip Code 96813
City Area Code 808
Local Phone Number 543-5662
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of each class Common Stock, Without Par Value
Trading Symbol HE
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000354707
Amendment Flag false
Hawaiian Electric Company, Inc.  
Entity Information [Line Items]  
Entity Registrant Name Hawaiian Electric Company, Inc.
Entity File Number 1-4955
Entity Tax Identification Number 99-0040500
Entity Address, Address Line One 1099 Alakea Street, Suite 2200
Entity Address, City or Town Honolulu
Entity Address, State or Province HI
Entity Address, Postal Zip Code 96813
City Area Code 808
Local Phone Number 543-7771
Entity Emerging Growth Company false
Entity Central Index Key 0000046207
Amendment Flag false
Hawaiian Electric (PK) (USOTC:HAWEM)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Hawaiian Electric (PK) Charts.
Hawaiian Electric (PK) (USOTC:HAWEM)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Hawaiian Electric (PK) Charts.