Strategies

Decarbonization (and beyond)

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Pacific Current centers its decarbonization and environment-related strategies in the following areas:

Clean Energy. Customer-sited renewable resources will play a critical role in reaching Hawai‘i’s 2045 clean energy goals as a complement to utility-scale solar projects. Pacific Current pursues development of and investment in customer-sited renewable energy systems. We install, own and maintain power generation systems and make clean energy available under PPAs without the customer needing to bear the upfront capital improvement costs. We also invest in utility-scale clean energy projects where permitted consistent with state law and regulatory guidance.

Zero-Emission Transportation. With over half of Hawai‘i’s energy sector GHG emissions stemming from transportation, and ground transportation accounting for the largest portion of transportation emissions,26 the transition to zero-emission vehicles is a key part of our decarbonization agenda. Through our joint venture with EverCharge Inc., we’re bringing affordable power-optimized EV charging solutions to Hawai‘i to encourage Hawai‘i drivers to choose zero-emission vehicles in lieu of petroleum-fueled cars, trucks and buses.

Sustainable Agriculture. Pacific Current is exploring partnerships and opportunities to introduce new technologies and solutions to build out the food value chain and increase local food production in ways that consider Hawai‘i’s limited land resources and make agriculture production more economically compelling and sustainable.

Pacific Current pursues development of and investment in customer-sited renewable energy systems.”

Our projects often involve no upfront cost and result in reduced operating expenses for our customers.”

Carbon Sequestration. By 2045, Hawai‘i seeks to sequester more atmospheric carbon and greenhouse gases than emitted within the state. Pacific Current wholeheartedly supports this goal and is exploring market-based business models to scale-up reforestation, conservation and carbon sequestration. We believe that improvements in agriculture, aquaculture, and land use practices that would promote increased greenhouse gas sequestration can go hand in hand with successful business ventures and solid economic returns for our shareholders.

Water Stewardship & Waste Diversion. Pacific Current recognizes water as a precious resource that must be responsibly managed. Via our partnership with Wastewater Alternatives and Innovation (WAI) and Cambrian Innovation, we are evaluating opportunities to deploy distributed wastewater treatment solutions that enable water reuse and production of renewable natural gas. We believe that we must take advantage of technological advancement in water stewardship to provide cost-effective and efficient results.

The Circular Economy. Hawai‘i is dealing with challenging waste management issues as many landfills face impending closure. Pacific Current is exploring ways to increase recycling, reuse, resource-saving product development and other sharing models.

Economic Health & Affordability

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Across industries, new technologies are shifting the nature of work. The emergence of cost-effective renewables is playing a major role in this disruption, creating new demand for workers in “clean energy” – which includes renewable energy, energy efficiency, grid modernization, storage, clean fuels and zero-emission vehicles. On average, workers in the “clean energy” sector earn 25% more than the national median wage.27 Pacific Current’s projects and asset portfolio drive employment of these types of skilled jobs, which can help drive economic growth and prosperity. In doing so, we strive to encourage people who call Hawai‘i home to remain in Hawai‘i, and also entice people who left Hawai‘i for other opportunities to consider returning to the state.

Our projects often involve no upfront cost and result in reduced operating expenses for our customers. Examples of affordable customer solutions we deploy include solar+storage, onsite wastewater treatment, anaerobic digestion and renewable natural gas combined heat and power. Moreover, we seek to provide these solutions to segments of the community that have been traditionally underrepresented or hard to reach. One example of this is our Koa‘e Workforce Housing solar plus battery energy storage project on Kaua‘i Island.

Reliability & Resilience

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Reliability and resilience are critical given the increased frequency and severity of weather events and risk of sea-level rise. A number of Pacific Current’s “behind the meter” projects incorporate battery energy storage systems. These systems provide our customers additional resiliency and the ability to optimize their energy usage.

Secure Digitalization

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The proliferation of digital technologies and real-time data provide a foundation for optimizing the performance of our projects, many of which are digitally monitored 24x7. This enables our team to proactively address operational issues and optimize our ongoing maintenance efforts.

Diversity, Equity & Inclusion

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Within our core team, Pacific Current supports employment policies that ensure fair labor practices and a culture of openness and diversity. We believe that our differences not only make us each uniquely special, but also make us collectively stronger, more collaborative and able to make better long-term decisions. Several examples of this in practice are Pacific Current’s policies to help its employees achieve work-life balance and pursue personal family goals (e.g., paid maternity and family leave and generous rollover of PTO).

More broadly with our communities and partners, our experience has taught us that increasing the adoption of innovative infrastructure solutions is best received in an atmosphere of mutual respect and understanding of the differences between all stakeholders. Given Hawai‘i’s rich and diverse history, we believe that our projects can be most effective when proactively incorporating a broad array of viewpoints and cultural and community perspectives.

As an investor, owner and manager of long-term infrastructure assets, Pacific Current is committed to the communities we serve.” Employee Engagement

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Employee engagement is a critical factor for Pacific Current. We operate with a small, tight-knit team and strive to have our employees be passionate, energetic and committed to our work and our mission. We accomplish that by maintaining a culture of openness and diversity, and by supporting employees’ ability to achieve work-life balance and pursue both personal and professional goals by offering flexible work schedules and competitive compensation and benefits.

Climate-Related Risks & Opportunities

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The impacts of climate change — particularly sea-level rise and increased frequency of weather-related disasters — present significant risk to Hawai‘i’s economy and people. In 2020 the Pacific International Center for High Technology Research (PICHTR) and the Hawai‘i Philanthropy Forum developed a sea-level rise adaptation survey to gather relevant information and to learn about the barriers pertaining to Hawai‘i sea-level rise adaptation amid COVID-19. A major gap in implementing climate-related solutions — as pointed out by the survey — is access to long-term climate adaptation funding. As a long-term owner and operator of sustainable infrastructure, Pacific Current seeks to help close this gap from a local perspective.

Stakeholder Engagement

As an investor, owner and manager of long-term infrastructure assets, Pacific Current is committed to the communities we serve. To build a relationship of trust with community stakeholders, we proactively provide information on our projects and ensure open, continuous communication. In support of our community, we have proudly contributed to vital initiatives that provide access to education, workforce training and food to populations in need. Pacific Current team members also serve on several local non-profit boards, where we are helping our communities become more resilient and prosperous.