Proposed project aims to support affordability, reliability and Hawaiʻi’s clean energy transition
JERA Americas intends to file a CPCN application with Hawai‘i PUC to establish a new regulated generation company, expanding Oahu’s future energy options
HONOLULU (July 17, 2026) — JERA Americas, a subsidiary of JERA Co., Inc., announced today that it is advancing development of its proposed power generation project on Oʻahu under its Strategic Partnering Agreement with the State of Hawaiʻi with the goal of strengthening reliability and resilience, reducing costs and supporting Hawai‘i’s evolving energy needs.
As part of the next phase of the proposed project, JERA Americas has submitted a Notice of Intent to file an application for a Certificate of Public Convenience and Necessity (CPCN), with the Hawaiʻi Public Utilities Commission (PUC). The application would seek approval to establish a new Hawaiʻi-based regulated wholesale generation company (GenCo) that would own and operate the proposed power plant and supply power to Oʻahu’s electric grid. Oʻahu, which includes nearly 1 million residents, uses more than 70% of the electricity generated in the state, and electricity demand is growing as transportation and industrial processes become increasingly electrified.
As previously announced, JERA Americas’ proposal contemplates an approximately $1.5 billion, 500-megawatt modern natural gas-fueled generation facility at Barber’s Point on Oʻahu supported by offshore liquefied natural gas (LNG) import infrastructure estimated to cost around $500 million. The proposed power plant is intended to replace aging oil-fired generation with newer, more efficient and fuel-flexible infrastructure that complements the continued growth of renewable resources by providing reliable power when it is needed to maintain grid stability.
If approved, GenCo would become a regulated public utility subject to ongoing oversight by the Hawaiʻi PUC. JERA Americas is not proposing to replace Hawaiian Electric’s role as Oʻahu’s retail electric utility. Hawaiian Electric would continue serving customers, operating the electric grid and their power plants, while GenCo would supply power under a regulatory framework established and approved by the PUC. The proposal is intended to provide the state, regulators and customers with an additional option to evaluate as Hawai‘i considers how best to address its long-term reliability, affordability and infrastructure needs.
“Energy has to become more affordable in Hawai‘i. The status quo isn’t good enough anymore, and I believe Hawaiʻi will benefit from competition and new ideas,” said Governor Josh Green.
“Since entering into the Strategic Partnering Agreement with the State, JERA has worked with local stakeholders to evaluate solutions that address Hawai‘i’s energy challenges,” said John O’Brien, chief executive officer of JERA Americas. “We believe Hawai‘i will benefit from having another regulated option to consider as it plans for the future, and we look forward to presenting the proposal for the PUC’s independent review and engaging with the community as the proposal is evaluated through a transparent public process.”
The CPCN proceeding provides a comprehensive, independent public review of the proposal, including reliability, affordability, customer impacts, environmental considerations, infrastructure needs and consistency with Hawaiʻi’s energy policies. The PUC would independently determine whether the proposal is in the public interest and whether GenCo is fit, willing and able to provide the proposed utility service, and would provide continuing oversight over rates, operations, financing and performance. This process would result in the highest level of public transparency, regulatory scrutiny and continuing oversight over what would be Hawaii’s largest electricity generation facility.
JERA Americas has advanced preliminary development activities associated with the proposed project, including engagement with landowners, turbine manufacturers and local partners. Other participating partners in the broader initiative include Hawai‘i Gas and Pasha Hawaii, which are supporting fuel distribution and maritime infrastructure planning associated with the
development.
The proposed project remains subject to additional due diligence, environmental review, permitting, regulatory approvals and stakeholder outreach.
For more information about the project, visit jerahawaii.com.
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About JERA
JERA is a global energy leader and Japan’s largest power generation company focused on
providing cutting-edge solutions to the world’s energy issues. Established in 2015, the company produces one-third of Japan’s electricity and is one of the largest LNG buyers in the world. JERA has global reach and strength throughout the energy supply chain, including participation in upstream gas exploration and production, LNG projects, fuel procurement and transportation, and power generation globally. Through its U.S. subsidiary JERA Americas, the company owns thermal power plants, develops lower-carbon fuels such as hydrogen and ammonia, and
advances energy infrastructure that delivers reliable and cleaner power to American businesses and communities. In support of a responsible energy transition, JERA aims to achieve net-zero CO₂ emissions from its domestic and overseas businesses by 2050.
