Hawaiian Electric Industries Company: Hawaiian Electric Industries (HE) (1891)

Hawaiian Electric Industries Inc. (abbreviation: Hawaiian Electric Industries Company) Hawaiian Electric Industries Inc. (NYSE: HE) was founded in 1891 and is headquartered in Honolulu, Hawaii, USA, with 3,880 full-time employees. Through its subsidiaries, it is engaged in electric utilities in Hawaii Career and banking.

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Hawaiian Electric Industries (HE):

Hawaiian Electric Industries (Hawaiian Electric Industries) is the largest power company in Hawaii. In addition to electricity and power generation, it also operates financial services, including the American Savings Bank (a subsidiary of Hawaiian Electric Industries Co., Ltd., established in 1925, and the third largest in Hawaii). Large financial institutions) etc. Which is funded by the Kauai Public Utilities Cooperative.

Hawaiian Electric Company is mainly engaged in electric utilities and banking business in Hawaii through its subsidiaries.

1. Electric power utility sector : engaged in power production, procurement, power transmission, power distribution, sales, etc. The power generation methods are mainly renewable energy and potential resources, including wind power, solar power, geothermal power, wave power, hydropower, and bagasse Power generation, waste-to-energy, and fuel-fired power generation. The service area includes Hawaii’s Oahu, Maui, Lanai, Molokai, and the sales target suburban communities, resorts, US military bases, farms, etc.

2. Banking business department : provide various types of banking and other financial services, deposit types include savings accounts, checking accounts, money market accounts, time deposit certificates, etc.; loan types include residential and commercial real estate loans, residential mortgage loans, construction and development loans, Multi-family residential and commercial real estate loans, consumer loans, consumer and corporate commercial loans.

History  of Hawaiian Electric Industries (HE):

  • On October 13, 1891, Hawaiian Electric Company (abbreviated as HECO) was established;
  • In 1968, HECO acquired Maui Electric Company (abbreviated as MECO);
  • In 1970, HECO acquired Big Island’s Hilo Electric Light Company (later renamed Hawaii Electric Light Company, abbreviated as HELCO);
  • In 1983, a holding company was established-Hawaiian Electric Industries, Inc. (HEI) to manage all entities;
  • In 1988, HECO acquired Lanai City Power Plant;
  • In 1989, Molokai Electric Company was acquired;
  • December 3, 2014, one of the nation’s top ten power companies a new era of energy (NextEra Energy) announced its $ 4.3 billion acquisition of Hawaiian Electric Industries, American Savings Bank (American Savings Bank) Hawaiian Electric Industries belongs will become an independent spin-off Company, the transaction is expected to be completed in June 2016.
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