Fortistar and Epic Star Energy Acquire Renewable Energy Portfolio from HEI Subsidiary to Expand Clean Energy Capacity in Hawaii.

Fortistar and Epic Star Energy have acquired a renewable energy portfolio from Pacific Current, a subsidiary of Hawaiian Electric Industries. The portfolio includes a utility scale solar project on Kauai and several other operating renewable energy projects. Epic Star will manage the portfolio under long-term contracts, providing seamless renewable power to Hawaii. The acquisition provides a platform for Epic Star's development team to focus on building more sustainable energy projects in Hawaii.

HONOLULU, Aug. 4, 2025 /PRNewswire/ -- Fortistar and Epic Star Energy ("Epic Star") have announced the acquisition of a renewable energy portfolio from Pacific Current, a subsidiary of Hawaiian Electric Industries (HEI). The portfolio includes a utility-scale solar project on Kauai and several other operating renewable energy projects. The acquisition closed on August 1, 2025, and Epic Star will manage the portfolio under long-term contracts, ensuring seamless renewable power for Hawaii [1].

Epic Star's management team, with deep expertise in Hawaii's renewable energy development, will leverage this acquisition to focus on building more sustainable energy projects. The portfolio provides a platform for Epic Star to address the robust demand for new renewable power generation in Hawaii, aligning with the state's goals of creating a reliable, resilient power supply while transitioning from imported oil and fossil fuel generation [1].

Fortistar, a privately-owned investment firm with a successful track record of developing and operating assets for over 30 years, will support Epic Star in managing this portfolio. The acquisition represents an attractive platform for sustainable energy investment in Hawaii, with Epic Star's strong local relationships complementing its community-centric skillset [1].

Epic Star's CEO, Henry Yun, commented, "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" [1].

The acquisition underscores Fortistar's commitment to addressing complex sustainability challenges through investment and development. The firm has led financings raising over $3.5 billion in capital for companies and projects in the energy, transportation, and industrial sectors [1].

References:
[1] https://www.prnewswire.com/news-releases/fortistar-and-epic-star-energy-acquire-renewable-energy-portfolio-from-hei-subsidiary-302520603.html