Honua Ola Bioenergy

What Honua Ola Bioenergy does

Honua Ola Bioenergy is a Hawaiʻi-based, privately held biomass power generation company developing a single utility-scale facility in Pepeʻekeo on the site of the former Pepeʻekeo sugar mill. The facility is designed to deliver up to 30 MW of renewable electricity to the Hawaiʻi Island grid on a 24/7 basis using locally harvested non-native eucalyptus and invasive plant species (including albizia, strawberry guava, and gorse) as fuel feedstock. Notable technical components include state-of-the-art emissions control equipment, a closed-loop cooling system drawing from a saltwater aquifer at 1,300 feet depth, organic ash recycling for local agriculture, and a carbon sequestration program based on regrown tree crops.

The company's revenue model is entirely dependent on selling electricity to Hawaiian Electric Company under power purchase agreements (PPAs) subject to Hawaiʻi Public Utilities Commission approval. The ~$520M facility is reported as 99.5–99.9% complete but has never operated commercially, having been blocked for years by court challenges to two prior contracts. A third PPA was agreed in principle in December 2025 and remains subject to PUC approval amid ongoing civil litigation. The asset is positioned to support approximately 19,500 homes, generate 200+ local jobs, and help meet Hawaiʻi's statutory 100% renewable electricity mandate by 2045.

Name

Honua Ola Bioenergy

Legal name

Honua Ola Bioenergy

Website

https://honuaolabioenergy.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Honua Ola Bioenergy is a Hawaiʻi Island utility-scale biomass power plant developer selling 24/7 renewable electricity to Hawaiian Electric Company via power purchase agreements, using locally harvested eucalyptus and invasive species as fuel.

Ownership category

akta.pro rank

Product category

Biomass Power Generation

NAICS

Biomass Electric Power Generation (221117)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Agricultural Residues & Energy Crops Biomass Power (Stover, Bagasse, Pellets) (EUACAIAF)

akta.pro secondary industries

Biomass Ash, Slag & Byproduct Handling/Utilization (Ash Management, Soil Amendments) (EUAAAGAJ), Biomass Thinning & Pre-Commercial Thinning for Energy Feedstock (AFAMAGAD), Biomass Plant Operations, Maintenance & Performance Services (O&M) (EUAAAGAI)

Keywords

• Biomass power generation
• Renewable electricity
• Baseload power supply
• Utility-scale energy
• Bioenergy facility

Headquarters

HQ city

Pepeekeo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Sales (PPA): Honua Ola generates revenue by selling electricity to Hawaiian Electric Company under negotiated power purchase agreements. The facility has reached an agreement in principle for a third PPA to sell electricity from its 21.5-30 MW biomass power plant. Revenue is based on long-term fixed-cost contracts that provide price stability for ratepayers.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Honua Ola Bioenergy operates a 21.5-30 MW utility-scale biomass power plant in Pepe'ekeo, Hawai'i that generates renewable electricity 24/7 by combusting locally grown non-native eucalyptus and harvested invasive plant species. The electricity is sold to Hawaiian Electric Company under multi-year power purchase agreements (PPAs) and delivered into the Hawai'i Island grid, with capacity sufficient to support approximately 19,500 homes. The facility is 99.5-99.9% complete but remains idle pending regulatory approval and resolution of ongoing litigation over prior PPAs.

Product overview

Honua Ola Bioenergy is a single, unified bioenergy power generation facility offering 30 MW of renewable electricity production capacity. The facility operates as a complete vertical cycle: harvesting eucalyptus and invasive plant species, converting biomass into electricity via combustion and steam turbine generation, and replanting crops to maintain carbon neutrality. The company does not offer separate product modules or add-on services; the offering is the power plant itself and its electricity output to the Hawaiian Electric grid.

Differentiator

Problem solved

Functional benefit

Products and services

• Honua Ola Bioenergy Facility A 21.5-30 MW utility-scale biomass power plant in Pepe'ekeo, Hawai'i that produces renewable electricity 24/7 from locally grown non-native eucalyptus and harvested invasive plant species, with the output sold to Hawaiian Electric Company for delivery to the Hawai'i Island grid, sufficient to support approximately 19,500 homes.

Quantifiable outcome

• Supports 19,500 homes with renewable electricity
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Hawaiian Electric CompanycoreStrategic or Co-development Partner · 26 December 2025Honua Ola has reached an agreement in principle with Hawaiian Electric Company for a third power purchase agreement to sell electricity from its 21.5-megawatt biomass power plant in Pepeekeo, Hawaii. The plant has been blocked from going online for years due to court challenges to two previous contracts. Any new agreement would require state Public Utilities Commission approval amid ongoing civil litigation.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Puna Geothermal Venture: Puna Geothermal Venture is a utility-scale baseload renewable power plant on Hawai'i Island selling electricity to Hawaiian Electric under a PPA. It is the closest geographic and structural analog to Honua Ola as another firm, non-intermittent renewable serving the same island grid.
• Innergex Renewable Energy: Innergex operates a portfolio of biomass and hydroelectric generating facilities selling electricity to utilities under long-term PPAs. It is comparable as a direct peer in utility-scale biomass baseload power under contracted revenue structures.
• Ameresco: Ameresco develops, owns, and operates biomass and biogas-fired power plants that sell renewable electricity and thermal energy under PPAs to utilities and industrial customers. Comparable as a direct peer in biomass plant ownership and PPA-based revenue.
• GreenWood Resources: GreenWood Resources is a sustainable forestry operator specializing in eucalyptus and other short-rotation woody crops grown for energy and timber markets. It is comparable as a direct feedstock-side peer supplying and managing the same eucalyptus-to-energy supply chain Honua Ola depends on.

Broad incumbents

• AES Corporation: AES is a global independent power producer with significant biomass and renewable generation in its portfolio and long-term PPA experience. It is comparable as a large incumbent biomass-and-renewables IPP, though at much greater scale and geographic diversification than Honua Ola.
• NextEra Energy Resources: NextEra Energy Resources is one of the world's largest renewable IPPs with biomass operations among its wind, solar, and storage portfolio. Comparable as a broad incumbent operating biomass assets under long-term utility PPAs at scale.
• DTE Energy: DTE Energy owns and operates utility-scale biomass power plants within its broader regulated utility and power-generation portfolio. Comparable as a broad incumbent biomass operator with PPA-style off-take to a regulated utility.

Others

• Hawaiian Electric Company: Hawaiian Electric is Honua Ola's sole offtaker and the regulated utility that controls grid interconnection, PPA approval routing through the PUC, and dispatch on Hawai'i Island. It is not a competitor but is the central counterparty whose decisions determine Honua Ola's revenue.
• Enviva: Enviva is the world's largest producer of wood pellets used as biomass fuel for power generation. Comparable as a key input supplier into the biomass power value chain rather than a competing power producer.

Regional players

• Pacific Biodiesel: Pacific Biodiesel is a Hawaii-based renewable fuel producer with deep local agricultural and community ties across the islands. Comparable as a Hawaii-headquartered renewable fuel company serving the state's energy transition, though focused on liquid biofuels rather than power generation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/honua-ola-bioenergy

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Honua Ola Bioenergy