Holu Hou Energy secures $35 million investment to drive solar power and energy storage expansion in Hawaii and California markets

Holu Hou Energy LLC (HHE) is a leading provider of end-to-end solar power and energy storage solutions, including its innovative EnergyCluster products for multifamily residential properties (MDU) residential properties and single-family homes, and is a strategic investment was successfully secured. Raised $35 million from funds managed by Iradiant Partners LP (Iradiant), an alternative asset management firm that manages more than $11.4 billion worth of assets. This capital injection will strengthen HHE’s efforts in developing and constructing Hawaii’s largest pipeline of solar power and energy storage projects, while facilitating the company’s expansion into the California market. The partnership with Irradiant not only provides additional project capital, but also valuable structuring expertise, enabling HHE to effectively execute its project pipeline.

Over the past two years, HHE has cultivated a project pipeline of over $1 billion. Specifically, the company has a contract to install solar power and energy storage systems throughout the Island Palm community in Hawaii, making it one of the most significant residential solar projects in the United States. . Construction on the project began in early January with the support of a construction loan from Fundamental Renewables. In addition, HHE worked with the Hawaii Green Infrastructure Agency (HGIA) to introduce a leasing product, resulting in a $25 million residential solar backlog in the past six months alone.

In view of its expansion into the California market, HHE has responded to the California Public Utilities Commission’s (PUC) implementation of “VNEM 3.0.” This has implications for the economic viability of installing solar installations outside of tenant meters in MDU properties. HHE EnergyCluster emerges as the ideal solution, providing low-cost power and profitable asset ownership to approximately 3,000,000 properties across the state. EnergyCluster meets the needs of California’s many MDU tenants, who face some of the highest electricity bills in the nation, with real-time surplus energy sharing capabilities behind the meter. EnergyCluster provides an unparalleled experience for these residents by providing access to resilient and cost-effective energy.

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