Sunday, April 14, 2024
Hawai'i Free Press

Current Articles | Archives

Monday, August 1, 2022
​Hawaii Gas Acquired By Argo Infrastructure Partners
By News Release @ 4:31 PM :: 1665 Views :: Energy

Hawaii Gas To Be Acquired By Argo Infrastructure Partners

News Release from Hawaii Gas 07/14/2021

HONOLULU - June 14, 2021 - Hawaii Gas, the state's only franchised gas utility and largest propane distribution business, will be acquired by Argo Infrastructure Partners, LP ("Argo"), an investor in utility infrastructure with a longstanding track record of sustainable investing. The transaction is expected to close in the first half of 2022, subject to approval by the Hawaii Public Utilities Commission and other customary conditions.

"Argo seeks to invest in well-managed utilities that are moving us toward a sustainable future," said Richard Klapow, managing director of the firm. "We fully support the State of Hawaii's goal of carbon neutrality by 2045 and Hawai Gas' contributions to this goal, while continuing to provide safe and reliable gas energy services to residents and businesses. We are firmly committed to the environmental leadership of the state and Hawaii Gas."

"We believe that the change of ownership will be seamless for our commercial and residential customers, since neither our regulated rates nor daily operations will be affected," said Alicia Moy, president and CEO of Hawaii Gas. "I'm pleased that Argo has expressed strong support for the utility's efforts to increase its renewable and zero-carbon emission energy sources, such as hydrogen, and for its support of our clean energy plan."

Hawaii Gas' employee count, wages and union relationship will not be affected by the acquisition. The company's headquarters location, management team, and Hawaii-based directors will also remain in place. Hawaii Gas' other, smaller clean energy businesses, including the Waihonu Solar Farm, will also be acquired by Argo.

Argo will appoint a qualified resident of Hawaii to its board of directors so that the State's views and culture are fully understood, considered and continued under Argo's ownership.

  *   *   *   *   *

About Argo Infrastructure Partners, LP

Argo is an independent infrastructure investment firm with a focus on utilities and other high-quality, long-duration infrastructure assets. Argo currently has ~$5 billion of assets under management in 14 infrastructure assets and businesses in North America. Argo’s investment philosophy aims to couple sound investment return with responsible and sustainable investing. This includes integrating environmental, social, and governance (ESG) best practices into asset selection and ongoing asset management processes and providing detailed reporting to investors and stakeholders on ESG performance. Argo participates in GRESB, a global ESG benchmark for real assets as well as membership in both the GIIA (Global Infrastructure Investor Association) and the LTIIA (Long Term Infrastructure Investors Association).

About Hawaii Gas

Hawaii Gas is the only government-franchised, full-service gas company manufacturing and distributing gas in Hawaii. Hawaii Gas manufactures synthetic natural gas, or SNG, and renewable natural gas, or RNG, for its utility customers on Oahu, and distributes liquefied petroleum gas, or LPG (propane), to utility, tank and bottled gas customers throughout the state’s six primary islands. It also produces RNG at their award winning, Honouliuli Wastewater Treatment Plant on Oahu. Hawaii Gas is a wholly owned indirect subsidiary of Macquarie Infrastructure Corporation (MIC). For more information, visit HawaiiGas.com.

SA: New York firm gets PUC’s OK to buy Hawaii Gas

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT