Fortistar and Epic Star Energy Acquire Renewable Energy Portfolio from HEI Subsidiary

Posted on August 4th, 2025 | Filed under Press Releases

HONOLULU, Aug. 4, 2025 /PRNewswire/ — Fortistar and Epic Star Energy (“Epic Star”) announced the acquisition of a renewable energy portfolio from Pacific Current, a subsidiary of Hawaiian Electric Industries (HEI). The acquired portfolio consists of a utility scale solar project on Kauai and several other operating renewable energy projects. The acquisition closed on August 1, 2025. Epic Star will manage the portfolio under long-term contracts going forward, providing seamless, renewable power for many more decades of service to Hawaii.

Epic Star’s management team has deep expertise in the Hawaii renewable energy development space, having previously developed one of Oahu’s largest solar and battery projects currently under construction. Epic Star, a Fortistar portfolio company, invests in and develops battery energy storage systems coupled with solar and other sustainable energy resources where practical. Fortistar has a successful track record of developing, owning and operating assets for over 30 years.

“The sale of this portfolio ensures that these important renewable assets continue to provide clean power to our communities,” said Scott DeGhetto, EVP & CFO of HEI. “We believe Epic Star’s expertise in developing and operating renewable energy assets will make it a good partner for Hawaii as our state continues on its path to a clean, reliable and resilient energy future.”

The acquisition of this portfolio provides a platform for Epic Star’s proven development team to focus on building more sustainable energy projects to address the robust demand for new renewable power generation in Hawaii supported by statewide goals to create a reliable, resilient power supply while safely transitioning from imported oil and fossil fuel generation.

“This diversified portfolio of long-term contracted commercial and utility scale projects represents an attractive platform for sustainable energy investment in Hawaii. We plan to leverage these existing projects with our strong, local relationships as a complement to our community centric skillset, ensuring alignment with the community” said Henry Yun, CEO of Epic Star.

Epic Star Energy

Epic Star Energy is a Fortistar portfolio company managed by a highly respected team of proven developers and professionals representing all aspects of the renewable energy value chain. Epic Star Energy leverages interconnections at key grid locations throughout North America to meet the increasing demand for stand-alone energy storage systems, coupled with other sustainable energy resources where practical. Epic Star’s management team has developed some of the largest renewable energy projects in the US, including a 3.2-gigawatt solar PV project and 2.0 gigawatts of storage in Western Arizona, and the largest energy storage project under construction in New York City under contract with Con Edison.

For more information, please visit: www.epicstarenergy.com

Fortistar

Founded in 1993, Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing assets, first in independent power projects and now into other areas that support decarbonization. As a team, Fortistar has led financings raising over $3.5 billion in capital for companies and projects in the energy, transportation and industrial sectors.

For more information, please visit: www.fortistar.com

Contact:
Kelly Sarber, Epic Star, 760.613.5994, [email protected]

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