(KAMUELA, HAWAI‘I, January 16, 2015) —Parker Ranch announced earlier today that Parker Ranch Foundation Trust (PRFT) has entered into an agreement with an affiliate of NextEra Energy Resources, LLC. This agreement provides NextEra Energy Resources with long-term access rights to PRFT lands to develop renewable energy derived from PRFT’s wind resources.
“We have been aggressively seeking ways to reduce the cost of electricity for our community and our island by using the potential renewable energy resources available on PRFT’s Hawai‘i Island lands,” said Neil (“Dutch”) Kuyper, President and CEO of Parker Ranch. “During this time, we have also been seeking capital and technical expertise from potential development partners. We have been working collaboratively with NextEra Energy Resources for more than a year and believe that they are the ideal partner to utilize PRFT’s wind resources.”