Molokai Real Estate – Commercial Wind Project Talks End

Molokai Properties Ltd., which owns the Molokai Ranch, has announced that talks with Molokai Renewable LLC, who was hoping to build a large commercial wind-energy project on the island, have ended. Chief Executive Officer for Molokai Properties, Clay Rumbaoa, stated, “After much consideration and discussions with Molokai Renewables, we made the decision not to renew the agreement for the proposed wind farm project on Molokai Ranch lands at this time. Our focus is currently on ensuring the success of our newly relaunched ranching operations and our efforts to reopen existing facilities, such as the Mau­na­loa Lodge, in an effort to create opportunities for the island. We have enjoyed working with Molokai Renewables and appreciate their commitment to smart and sustainable wind projects.”

Molokai Renewables had proposed building approximately 70 large wind turbines on Molokai which would generate 200-megawatts of energy. The electricity generated would then be sent to the island of Oahu via an undersea cable. Guy Kaulukukui with Molokai Renewables LLC, stated, “While we are disappointed with Molokai Properties’ decision not to move forward with our proposed wind farm project on Molokai Ranch lands, we respect their decision. We have enjoyed working with Molokai Properties and appreciate their commitment to Molokai. While we were still many years away from potentially building a wind farm, our initial research indicated that Molokai‘s residents would benefit from the kind of sustainable wind project we were proposing, one with unique benefits, commitments to restore and conserve the land, preserve Molokai‘s rich culture and way of life, and enhance the ocean resources and local food supply that Molokai depends on.”

Source: Honolulu Star Advertiser, 2-9-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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