EnSync Energy Completes Sale of Power Purchase Agreement for Easter Seals Hawaii Solar System
MILWAUKEE, July 10, 2017 /PRNewswire/ -- EnSync, Inc. (NYSE MKT: ESNC), dba EnSync Energy Systems, a leading developer of innovative distributed energy resource (DER) systems and Internet of Energy (IOE) control platforms, today announced the sale of the 20-year power purchase agreement (PPA) that the company entered into with Easter Seals Hawaii, a nonprofit organization that provides services for people with disabilities and special needs. The PPA is for a 122-kilowatt solar panel installation at the nonprofit's Kapolei Napuakea Service Center.
The undisclosed investor's purchase of EnSync Energy's PPA will enable Easter Seals Hawaii to save on electricity costs. Under the new PPA, EnSync Energy will continue to manage construction and operations, as well as maintenance of the ground-mount system, while the investor provides long-term ownership.
EnSync Energy and our local subsidiary, Holu Energy, are at the forefront of developing distributed energy projects that deliver both savings and reliability to our commercial and industrial customers, said Brad Hansen, CEO and president of EnSync Energy. We are incredibly proud to help Easter Seals lower its electricity bill, and we plan to continue to support other organizations that are benefiting the Hawaiian region.
Easter Seals is thrilled to harness the abundant sunshine here, using it to benefit our environment and bring down costs, said Ron Brandvold, CEO of Easter Seals Hawaii. We appreciate being able to manage costs whenever and wherever it's feasible so that we can allocate even more funds towards our services for those with special needs, and EnSync Energy has made that possible.
EnSync Energy contracted PhotonWorks Engineering, a Hawaii-based development, construction and renewable energy company, to build the solar project, which was uniquely designed to provide long-term energy savings to Easter Seals. This project is in an advanced stage of development with construction targeted for completion by the end of 2017. EnSync Energy currently has 19 projects in Hawaii that are operational, under construction or have been contracted.
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