Hawaiian Electric Industries, Inc. (HE) ANSOFF Matrix

Hawaiian Electric Industries, Inc. (HE): ANSOFF-Matrixanalyse

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Hawaiian Electric Industries, Inc. (HE) ANSOFF Matrix

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Hawaiian Electric Industries, Inc. (HE) steht an der Spitze einer transformativen Energierevolution und positioniert sich strategisch, um nachhaltige Stromerzeugung und -verteilung im gesamten Pazifik neu zu definieren. Durch die sorgfältige Untersuchung der Ansoff-Matrix stellt das Unternehmen eine mutige Roadmap vor, die über traditionelle Versorgungsgrenzen hinausgeht und innovative Strategien in den Bereichen erneuerbare Energien, technologischen Fortschritt und Marktexpansion umfasst. Von der Einführung von Solarenergie bis hin zu modernsten Netztechnologien passt sich HE nicht nur der Zukunft an, sondern entwickelt aktiv ein saubereres, effizienteres Energieökosystem, das verspricht, die Art und Weise, wie Gemeinden Strom verbrauchen und damit interagieren, neu zu gestalten.


Hawaiian Electric Industries, Inc. (HE) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie die Einführung von Solarenergie bei bestehenden Privat- und Gewerbekunden in Hawaii

Im Jahr 2022 meldete Hawaiian Electric Industries 95.000 private und gewerbliche Solaranlagen in ganz Hawaii. Die Solardurchdringungsrate des Unternehmens erreichte 36 % der gesamten Stromerzeugung im Bundesstaat.

Kundensegment Solaranlagen Penetrationsrate
Privatkunden 68,500 28%
Gewerbliche Kunden 26,500 8%

Implementieren Sie aggressive Energieeffizienzprogramme

Hawaiian Electric investierte im Jahr 2022 42,3 Millionen US-Dollar in Energieeffizienzprogramme mit dem Ziel, den Energieverbrauch der Kunden um 15 % zu senken.

  • Energieaudit-Dienstleistungen: 22.000 Kunden nahmen teil
  • Rabattprogramme: 6,2 Millionen US-Dollar ausgeschüttet
  • Smart-Meter-Installationen: 87.000 abgeschlossen

Entwickeln Sie gezielte Marketingkampagnen

Zuweisung des Marketingbudgets für die Förderung erneuerbarer Energien: 3,7 Millionen US-Dollar im Jahr 2022.

Marketingkanal Investition Reichweite
Digitales Marketing 1,5 Millionen Dollar 250.000 Kunden
Gemeinschaftsveranstaltungen $850,000 45 lokale Veranstaltungen

Bieten Sie attraktive Tarifpläne und Anreize

Budget des Anreizprogramms für erneuerbare Energien: 14,6 Millionen US-Dollar im Jahr 2022.

  • Gutschrift für Solar-Nettomessung: 0,15 $ pro kWh
  • Anreize für Batteriespeicher: Bis zu 4.000 US-Dollar pro Installation
  • Ladetarife für Elektrofahrzeuge: 25 % ermäßigte Tarife

Verbessern Sie die Qualität des Kundenservice

Investitionen in den Kundenservice: 8,2 Millionen US-Dollar im Jahr 2022.

Servicemetrik Leistung
Durchschnittliche Reaktionszeit 12 Minuten
Kundenzufriedenheitsrate 87%
Einführung digitaler Dienste 65 % der Kunden

Hawaiian Electric Industries, Inc. (HE) – Ansoff-Matrix: Marktentwicklung

Entdecken Sie die Expansion in andere pazifische Inselmärkte außerhalb von Hawaii

Hawaiian Electric Industries, Inc. meldete im Jahr 2022 einen Gesamtumsatz von 1,08 Milliarden US-Dollar. Das Marktpotenzial der pazifischen Inseln umfasst Guam mit einem Strommarktvolumen von etwa 250 Millionen US-Dollar pro Jahr.

Markt Möglicher Jahresumsatz Potenzial für erneuerbare Energien
Guam 250 Millionen Dollar 37 % Solarpotenzial
Amerikanisch-Samoa 45 Millionen Dollar 28 % erneuerbare Kapazität

Arbeiten Sie mit lokalen Regierungen zusammen, um eine Infrastruktur für erneuerbare Energien zu entwickeln

Hawaiian Electric investierte im Jahr 2022 185 Millionen US-Dollar in erneuerbare Infrastrukturprojekte. Das aktuelle Portfolio erneuerbarer Energien macht 34 % der gesamten Erzeugungskapazität aus.

  • 75 Millionen US-Dollar für Netzmodernisierung bereitgestellt
  • 37 MW neue Solarprojekte fertiggestellt
  • 15 MW Windenergieinfrastruktur entwickelt

Untersuchen Sie Möglichkeiten bei Solar- und Windenergieprojekten im Versorgungsmaßstab

Die aktuellen groß angelegten erneuerbaren Energieprojekte von Hawaiian Electric belaufen sich auf insgesamt 278 MW. Die geplanten Investitionen für neue erneuerbare Projekte werden bis 2025 auf 420 Millionen US-Dollar geschätzt.

Projekttyp Aktuelle Kapazität Geplante Investition
Solar 187 MW 265 Millionen Dollar
Wind 91 MW 155 Millionen Dollar

Entwickeln Sie eine Ladeinfrastruktur für Elektrofahrzeuge auf verschiedenen Hawaii-Inseln

Hawaiian Electric plant, bis 2024 250 neue Ladestationen für Elektrofahrzeuge zu installieren. Die aktuelle Ladeinfrastruktur für Elektrofahrzeuge umfasst 175 öffentliche Ladestationen.

  • 35-Millionen-Dollar-Budget für den Ausbau der Elektrofahrzeug-Infrastruktur
  • Bis 2026 werden insgesamt 500 Ladestationen angestrebt
  • Durchschnittliche Investition von 140.000 US-Dollar pro Ladestation

Beantragen Sie behördliche Genehmigungen für inselübergreifende Netzverbindungsprojekte

Geschätzte Projektkosten für die inselübergreifende Netzverbindung: 325 Millionen US-Dollar. Voraussichtlicher Zeitplan für die Fertigstellung: 2025–2027.

Insel Netzverbindungskosten Voraussichtliche Fertigstellung
Oahu 175 Millionen Dollar 2025
Maui 95 Millionen Dollar 2026
Hawaii-Insel 55 Millionen Dollar 2027

Hawaiian Electric Industries, Inc. (HE) – Ansoff-Matrix: Produktentwicklung

Entwickeln Sie fortschrittliche Energiespeicherlösungen als Ergänzung zur erneuerbaren Energieerzeugung

Hawaiian Electric Industries investierte im Jahr 2022 28,7 Millionen US-Dollar in Batteriespeicherprojekte. Das Unternehmen stellte 134 MW Energiespeicherkapazität im gesamten Stromnetz Hawaiis bereit. Die Zahl der Batteriespeicherinstallationen stieg im Vergleich zum Vorjahr um 42 %.

Energiespeicherprojekt Kapazität (MW) Investition (Mio. USD)
Oahu Grid Storage 78 16.5
Maui-Energiespeicher 36 7.9
Hawaii-Inselprojekte 20 4.3

Schaffen Sie Smart-Grid-Technologien, um die Effizienz der Stromverteilung zu verbessern

Die Investitionen in intelligente Netze beliefen sich im Jahr 2022 auf 42,3 Millionen US-Dollar. Das Unternehmen implementierte eine fortschrittliche Messinfrastruktur, die 95 % seines Kundenstamms abdeckt. Die Netzmodernisierung reduzierte die Übertragungsverluste um 3,6 %.

  • Bereitstellung einer fortschrittlichen Messinfrastruktur: 245.000 intelligente Zähler
  • Echtzeit-Netzüberwachungssysteme: 12 neue Leitstellen
  • Verbesserung der Netzeffizienz: Reduzierung der Übertragungsverluste um 3,6 %

Führen Sie innovative Heimenergiemanagementsysteme für Privatkunden ein

Hawaiian Electric führte mit Entwicklungskosten von 6,2 Millionen US-Dollar Energiemanagementsysteme für Privathaushalte ein. Im Jahr 2022 haben 37.500 Privatkunden Smart-Home-Energiemanagementtechnologien eingeführt.

Technologie Akzeptanzrate Kundensegmente
Smart-Thermostat-Integration 22.500 Kunden Wohnen
Solarenergiemanagement 15.000 Kunden Wohn-Solar

Einführung von Mikronetzen und dezentralen Energielösungen

Die Investitionen in Mikronetze beliefen sich im Jahr 2022 auf insgesamt 35,6 Millionen US-Dollar. Das Unternehmen entwickelte sieben neue Mikronetzprojekte auf den hawaiianischen Inseln und unterstützte 45.000 Kunden mit dezentralen Energielösungen.

  • Gesamtkapazität des Mikronetzes: 24 MW
  • Anzahl der Microgrid-Projekte: 7
  • Von Mikronetzen versorgte Kunden: 45.000

Entwickeln Sie vorausschauende Wartungstechnologien für die elektrische Infrastruktur

Die Investitionen in vorausschauende Wartungstechnologie beliefen sich auf 18,4 Millionen US-Dollar. Das Unternehmen implementierte KI-gesteuerte Überwachungssysteme auf 3.200 Meilen Übertragungsleitungen und reduzierte so unerwartete Ausfälle um 27 %.

Wartungstechnik Investition (Mio. USD) Ausfallreduzierung
KI-Überwachungssysteme 12.6 27 % Ermäßigung
Drohnen-Inspektionstechnologien 5.8 18 % Effizienzsteigerung

Hawaiian Electric Industries, Inc. (HE) – Ansoff-Matrix: Diversifikation

Investieren Sie in neue saubere Energietechnologien wie die Produktion von grünem Wasserstoff

Hawaiian Electric Industries investierte im Jahr 2022 12,5 Millionen US-Dollar in die Forschung und Entwicklung von grünem Wasserstoff. Die derzeitige Produktionskapazität für grünen Wasserstoff liegt bei 50 Tonnen pro Jahr. Der prognostizierte Marktwert für grünen Wasserstoff in Hawaii wird bis 2025 auf 78 Millionen US-Dollar geschätzt.

Anlagekategorie Betrag Prognostiziertes Wachstum
Forschung und Entwicklung zu grünem Wasserstoff 12,5 Millionen US-Dollar 15,3 % jährlich
Produktionskapazität 50 Tonnen/Jahr 250 % bis 2026

Entdecken Sie das Flottenmanagement für Elektrofahrzeuge und die damit verbundenen Serviceangebote

Hawaiian Electric hat 25 Millionen US-Dollar für die Infrastruktur von Elektrofahrzeugen bereitgestellt. Auf Hawaii gibt es aktuell 127 Ladestationen für Elektrofahrzeuge. Der Umsatz mit Flottenmanagementdienstleistungen erreichte im Jahr 2022 4,2 Millionen US-Dollar.

  • Gesamtinvestition in die Ladeinfrastruktur für Elektrofahrzeuge: 25 Millionen US-Dollar
  • Anzahl Ladestationen: 127
  • Umsatz mit Flottenmanagementdiensten: 4,2 Millionen US-Dollar

Entwickeln Sie Energieberatungsdienste für gewerbliche und industrielle Kunden

Energieberatungsdienste erwirtschafteten im Jahr 2022 einen Umsatz von 6,7 Millionen US-Dollar für Hawaiian Electric. Der Kundenstamm wurde auf 214 Gewerbe- und Industriekunden erweitert.

Kennzahlen für Beratungsdienstleistungen Daten für 2022
Gesamtumsatz 6,7 Millionen US-Dollar
Anzahl der Kunden 214

Erstellen Sie digitale Plattformen für den Energiehandel und das Energiemanagement

Kosten für die Entwicklung der digitalen Plattform: 8,3 Millionen US-Dollar. Die Nutzerbasis der Plattform wuchs im Jahr 2022 auf 45.000. Das Transaktionsvolumen erreichte 17,6 Millionen US-Dollar.

  • Investition in die Entwicklung digitaler Plattformen: 8,3 Millionen US-Dollar
  • Benutzerbasis: 45.000
  • Jährliches Transaktionsvolumen: 17,6 Millionen US-Dollar

Investieren Sie in nachhaltige Infrastrukturentwicklungsprojekte

Die Investitionen in nachhaltige Infrastruktur beliefen sich im Jahr 2022 auf insgesamt 42,6 Millionen US-Dollar. Zu den Projekten gehören die Netzintegration erneuerbarer Energien und die Entwicklung von Mikronetzen.

Infrastrukturinvestitionen Betrag
Gesamtinvestition in nachhaltige Infrastruktur 42,6 Millionen US-Dollar
Projekte zur Integration erneuerbarer Netze 18,3 Millionen US-Dollar
Microgrid-Entwicklung 24,3 Millionen US-Dollar

Hawaiian Electric Industries, Inc. (HE) - Ansoff Matrix: Market Penetration

Market penetration for Hawaiian Electric Industries, Inc. (HE) centers on deepening service within its existing island markets by accelerating infrastructure investment and driving customer adoption of new programs.

Accelerate Grid Modernization Using Securitization Funding

You're looking at significant capital deployment to harden the grid against future events, which directly impacts reliability and customer trust. Hawaiian Electric Industries, Inc. (HE) has a three-year wildfire safety strategy that is projected to cost $350 million, with $137 million budgeted specifically for work in 2025. This is part of a broader, multiyear effort that includes replacing 2,202 wood utility poles with fire-resistant alternatives and undergrounding two miles of high-risk overhead lines in Lahaina. The company is seeking regulatory approval for securitization, which authorizes financing up to $500 million for these resilience investments. If this securitization is approved, the estimated 3-year total bill impact for Oahu is $68M, for Hawaii Island $101M, and for Maui County $181M. Without securitization, the estimated monthly bill impact for an average residential customer would be $1 on Oahu, $3 on Hawaii Island, and $5 in Maui County. In 2024, the company spent about $120 million on wildfire safety improvements alone.

Drive Adoption of BYOD Plus Program

The Bring Your Own Device Plus (BYOD Plus) program, which started on May 15, 2025, is a key lever for increasing distributed energy resource participation. This program is designed to harness customer battery storage to support the grid, especially during the evening peak. The total capacity allocated for enrollment is 50 MW statewide. This capacity is split evenly, reserving 25 MW specifically for Low and Moderate-Income (LMI) households and 25 MW for non-LMI participants. The commitment period for participants is five years, running from May 15, 2025 - May 14, 2030. Customers must commit a minimum of 1 kW capacity. The financial incentives are structured to encourage adoption, defintely.

Customer Segment Upfront Incentive (per kW) Export Credit Rate Minimum Committed Capacity
Non-LMI $400/kW Retail Rate (during dispatch window) 1 kW
LMI $800/kW Retail Rate (during dispatch window) 1 kW

For example, an LMI household with two batteries, each committing 1 kW, could receive up to $8,000 in upfront rebates.

Increase Renewable Energy Generation

Hawaiian Electric Industries, Inc. (HE) is pushing past its 2024 Renewable Portfolio Standard (RPS) achievement of 36% consolidated renewable energy generation. This is a step up from the 33% achieved in 2023. The company is moving toward the state's 2030 goal of 40% RPS, with the long-term target being 100% renewable energy by 2045. The 2024 figures show significant progress across the islands, though the consolidated number masks island-specific performance.

  • Oahu RPS in 2024: 30.8%
  • Hawaii Island RPS in 2024: 58.7%
  • Maui County RPS in 2024: 41.1%

Grid-scale solar additions in 2024 included projects like Kupono Solar (42 MW) and AES Kuihelani Solar (60 MW). New private rooftop solar installations totaled 61 MW in 2024. The company is on track to exceed the forecasted cumulative distributed solar capacity of 1,186 MW by 2030.

Offer Dynamic Pricing Tariffs

To optimize existing grid capacity, Hawaiian Electric Industries, Inc. (HE) is advancing its Advanced Rate Design Strategy (ARDS) through Time-of-Use (TOU) rates. The TOU Study began on February 1, 2024, for a subset of customers. This tariff structure divides the day into three pricing periods to incentivize usage shifts away from peak demand times:

  • Daytime Period (9 a.m. to 5 p.m.)
  • Evening Peak Period (5 p.m. - 9 p.m.)
  • Overnight Period (9 p.m. - 9 a.m.)

The rates are set in a 1:2:3 ratio, meaning the evening peak is the most expensive period, and daytime rates are the cheapest. The overall Pilot implementation schedule has been extended to December 31, 2026.

Improve Customer Satisfaction and Reliability

Solidifying the existing market position relies on maintaining high service levels, which is supported by the grid modernization efforts mentioned above. Hawaiian Electric Industries, Inc. (HE) is a prominent utility supplying power to approximately 95% of the state's population. The company's Q3 2025 report showed a subsidiary net income of $37 million, reflecting a significant recovery driven by higher revenues and reduced wildfire liabilities. The utility continues to focus on decarbonization and grid modernization to enhance reliability.

Hawaiian Electric Industries, Inc. (HE) - Ansoff Matrix: Market Development

You're looking at expanding Hawaiian Electric Industries, Inc. (HEI) beyond its regulated Hawaii footprint. The core competency here is managing an island grid with high renewable penetration, which is a complex, high-cost environment. For context, Hawaiian Electric achieved a consolidated Renewable Portfolio Standard (RPS) of 36% in 2024, accelerating toward the 2030 milestone of 40%.

Establish a non-regulated consulting arm to export expertise in complex island grid decarbonization

The current strategic direction shows a move toward simplification, with the sale of 90.1% of American Savings Bank closing on December 31, 2024, and the divestiture of Pacific Current's solar and battery assets. This shift contrasts with the prior non-regulated activities; for instance, Pacific Current recorded a $35.2 million asset impairment in Q3 2024. The expertise developed, however, remains valuable. The utility itself saw a typical residential bill decrease of 7% in 2024, and returned $18 million in bill credits to customers.

Target other isolated, high-cost energy markets like U.S. territories or Caribbean island nations with existing products

The experience gained in Hawaii's unique environment-which includes managing a system where about 43% of single-family homes have rooftop solar-is the product for export. The scale of the challenge is reflected in the company's financial position; for the full year 2024, Hawaiian Electric Industries, Inc. reported a net loss of $1,426 million, or $11.23 per share, compared to a net income of $199 million in 2023. The utility's Q3 2025 net income was $37 million, a significant improvement from the Q3 2024 net loss of $83 million.

Bid on federal contracts to manage and modernize microgrids on U.S. military bases outside of Hawaii

The need for grid modernization and resilience mirrors the work HEI is undertaking in Hawaii, which requires significant capital. The projected Capital Expenditure (CapEx) over the next three years, from 2026 to 2028, is roughly $1.8 billion to $2.4 billion, which includes funding for wildfire and resilience work. Specifically, wildfire and resilience CapEx is expected to be approximately $50 million to $100 million, planned to be financed via securitization. The company has recently improved its financial flexibility, expanding its credit facility capacity to $600 million from $375 million and successfully issuing approximately $500 million in debt.

Partner with mainland utilities to share best practices on integrating high levels of distributed solar, a core competency

Hawaiian Electric is on track to exceed the forecasted cumulative distributed solar capacity of 1,186 MW by 2030. This integration experience is a marketable asset. For comparison, the consolidated revenue for Hawaiian Electric Industries, Inc. in 2024 was $2.90 Billion USD, a decrease from $3.68 Billion USD in 2023. The core income from continuing operations in Q2 2025 was $35 million, or $0.20 per share.

Here are some key financial and operational metrics relevant to assessing this market development strategy:

Metric Category Description Value (Latest Available) Year/Period
Financial Performance Full Year Net Loss $1,426 million 2024
Financial Performance Q3 Net Income $31 million Q3 2025
Financial Performance Revenue (TTM) $2.76 Billion USD 2025 TTM
Operational Achievement Consolidated RPS 36% 2024
Operational Achievement Forecasted Cumulative Distributed Solar Capacity 1,186 MW By 2030
Strategic Finance Debt Issued Approx. $500 million 2025
Strategic Finance Projected Resilience CapEx (2026-2028) $50 million to $100 million Annualized Portion
Litigation/Risk Management Maui Settlement First Payment Expected No sooner than Q1 2026 N/A

The core competency is built on handling high renewable penetration and grid stability challenges:

  • RPS Milestone Target: 40% by 2030.
  • Hawaii Island RPS Achieved: 59%.
  • Single-Family Homes with Rooftop Solar: 43%.
  • Q3 2024 Wildfire Liability Accrual (Pre-tax): $203.0 million.
  • Q3 2024 Core Income from Continuing Operations: $33 million (or $0.29 per share).

The utility dividend to HEI continues to be suspended.

Hawaiian Electric Industries, Inc. (HE) - Ansoff Matrix: Product Development

You're looking at how Hawaiian Electric Industries, Inc. (HE) can grow by introducing new services to its existing customer base, which is the core of Product Development in the Ansoff Matrix. This means taking what you know about the Hawaii market and building something new for it.

Expand and upgrade the public Electric Vehicle (EV) fast-charging network across Oahu and Maui.

The utilization of your company-owned public Fast Chargers is definitely climbing. In 2024, energy dispensed by EV-U Fast Chargers across the service territory hit 2,184,143 kWh, marking an 81 percent increase from the year before. To manage this growth, the EV Charging Station Asset Manager team was expanded from one full-time employee to two FTEs in late 2023. Commercial EV TOU (Time-of-Use) rates, like EV-J or EV-P, are part of a pilot running from 2022 - 2027 on Oahu and Maui, incentivizing charging during mid-day solar peaks.

Introduce advanced Energy-as-a-Service (EaaS) packages for large commercial and industrial customers in Honolulu.

For your largest customers in Honolulu, EaaS packages would build on existing support structures. The Commercial Account Management Team already serves as a single point of contact for large power service projects, load management, and new product information. While specific EaaS package revenue targets aren't public, this push aligns with the overall $400 million expected CapEx for 2025. You're essentially productizing grid support services for C&I (Commercial & Industrial) clients.

Develop and market utility-owned battery storage services for residential customers beyond the BYOD Plus incentive model.

Beyond customer-sited storage like the new BYOD Plus program, utility-owned assets are key for grid stability. The BYOD Plus program, which replaced Battery Bonus, has a total capacity target of 50 MW statewide, with 25 MW specifically reserved for LMI (Low-Moderate Income) households starting May 15, 2025. Meanwhile, two major utility-owned battery projects are slated for completion around September 2025, if approved: the Waena BESS on Maui and the North Kohala Microgrid project. Here's a quick look at the storage landscape:

Program Type Program Name Example Capacity/Scale Customer Incentive/Benefit
Utility-Owned BESS Waena BESS (Maui) Utility-owned asset Ensure grid stability; accommodate more renewables
Utility-Owned Microgrid North Kohala Microgrid Utility-owned asset Integrated with BESS; expected completion September 2025
Customer-Owned Storage BYOD Plus 50 MW total capacity Upfront incentive of $400/kW committed (non-LMI)
Closed Customer Storage Battery Bonus N/A Closed to new participants

Launch a new demand-response program utilizing smart thermostat and water heater controls to manage load.

You already have a proven model for load control. The Residential Direct Load Control Water Heater program is fully subscribed with 34,000 participating customers, offering a consistent $3 bill credit every month, or $48 per year, whether an event is triggered or not. This is a low-cost way for the utility to manage load, as water heaters are simple resistive loads. The Q2 2025 results showed $1 million in demand response revenues, showing the financial upside. A new program could expand this to smart thermostats, where the incremental cost to upgrade a standard unit is between $100 and $200.

The existing DR portfolio includes several mechanisms for load shaping:

  • Fast Demand Response (Fast DR) for Oahu/Maui businesses.
  • Residential Direct Load Control for water heaters.
  • Commercial & Industrial Direct Load Control (CIDLC) using generators.
  • Power Partnership Programs with independent companies.

Finance: draft 13-week cash view by Friday.

Hawaiian Electric Industries, Inc. (HE) - Ansoff Matrix: Diversification

You're looking at how Hawaiian Electric Industries, Inc. (HEI) can move beyond its regulated utility base in Hawaii, which supplies power to approximately 95% of the state's population. This diversification strategy uses capital freed up from non-core assets and focuses on adjacent, non-regulated growth areas.

The recent divestiture of its majority stake in American Savings Bank (ASB) provides the initial capital base for this push. The transaction valued the bank at $450 million, with the sale of 90.1% generating an aggregate cash consideration of $405 million for Hawaiian Electric Industries, Inc. (HEI). As of Q1 2025, HEI used $384 million of these proceeds to retire holding company debt. HEI retains a 9.9% non-controlling interest in ASB, which previously held $9.3 billion in total assets.

The immediate financial capacity for a major non-utility move is highlighted by the reported liquidity figures as of the end of Q3 2025. While the holding company had $40 million in unrestricted cash, the total reported liquidity figure is cited at $544 million.

Here's a look at the proposed diversification vectors and the financial context:

Diversification Action Relevant Financial/Statistical Data Point Value/Amount
Strategic Non-Utility Acquisition Unrestricted Cash/Liquidity Target for Acquisition $544 million
ASB Divestiture Proceeds Used for Debt Reduction Holding Company Debt Retired (Q1 2025) $384 million
ASB Divestiture Valuation Total Bank Valuation $450 million
Utility Operational Context Q3 2025 Core Net Income (HEI Consolidated) $33 million
Utility Operational Context Debt-to-Equity Ratio (HEI) 1.64

The first two points focus on technology and scale outside the regulated territory. You could start a subsidiary to offer large-scale, non-utility-owned Battery Energy Storage Systems (BESS) development in mainland US markets. Battery Energy Storage Systems (BESS) are important for filling gaps when solar and wind energy drop, and several stand-alone BESS projects are already in operation or being developed in Hawaii. This move leverages the utility's operational knowledge in grid stability, which is also a focus of Hawaiian Electric's $450 million, three-year wildfire safety plan, which budgeted $137 million for 2025 work.

The third point directly targets the available capital. You would leverage the $544 million in unrestricted cash for a strategic, non-utility acquisition in a complementary, non-regulated mainland sector. This is a pure market/product development move, distinct from the regulated utility business that reported Q3 2025 net income of $30.7 million.

The final vector is re-entering financial services in a targeted way. You could establish a new financial services product line, distinct from the divested American Savings Bank, focused on green financing for energy efficiency projects. This is a product development strategy using the experience gained from the bank holding, while the utility focuses on its core mission. The utility's Q1 2025 revenue was $744.1 million, showing the scale of the core business that this diversification seeks to balance.

Consider the following potential focus areas for non-regulated technology investment:

  • Invest in non-regulated, utility-adjacent technology startups focused on grid resilience outside of Hawaii.
  • Form a subsidiary to offer large-scale, non-utility-owned BESS development in mainland US markets.
  • Establish a new financial services product line focused on green financing.
  • Acquire a mainland entity using up to $544 million in liquidity.

Finance: draft 13-week cash view by Friday.


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