HONOLULU and JUNO BEACH, Fla., Jan.
29, 2016 /PRNewswire/ -- NextEra Energy, Inc. (NYSE:
NEE) and Hawaiian Electric Industries, Inc. (NYSE: HE) (HEI) today
announced that the Hawaii Business Roundtable, a statewide public
policy organization made up of CEOs and senior executives of
companies headquartered or maintaining significant operations in
Hawaii, has expressed its support
for the merger between Hawaiian Electric Industries, Inc. (NYSE:
HE) (HEI) and NextEra Energy, Inc. (NYSE: NEE). In doing
so, the Hawaii Business Roundtable is affirming its position that
NextEra Energy is the right energy partner to help Hawaiian
Electric build a more affordable renewable energy future for
Hawaii.
"We sincerely appreciate the Hawaii Business Roundtable stepping
forward and voicing its support for our partnership with Hawaiian
Electric," said Eric Gleason,
president of NextEra Energy Hawaii. "The support we have received
from Hawaii residents, business
and local organizations from across the state strengthens our
belief that together, we will achieve a more affordable, renewable
energy future."
"The Hawaii Business Roundtable's support of the proposed merger
is especially meaningful given the leadership of Hawaii's business community that the
organization represents," said Alan
Oshima, president and chief executive officer of Hawaiian
Electric. "NextEra Energy will be a strong partner who will work
with us to reach our clean energy goals, and we are pleased that
the Hawaii Business Roundtable agrees."
The Hawaii Business Roundtable issued the following position
statement:
"As members of the Hawaii Business Roundtable, we share a
commitment to a common goal: a better future for the people of
Hawaii. To that end, we have
followed the public debate on the proposed merger between NextEra
Energy and Hawaiian Electric. We commend the Public Utilities
Commission for encouraging an open, nonpolitical, public discussion
as our high electricity rates are an important topic to all of us
in Hawaii. We support the state's
goal of achieving 100 percent renewable energy by 2045. As business
leaders, we recognize that a better future often requires
significant investment. Achieving the state's clean energy goals,
while lowering electricity rates for businesses and customers, is
no different.
We are also acutely aware of the burden high electricity rates
place on both the cost of doing business and living in Hawaii. Our energy future is of critical
importance and we need to determine the best path that will get us
to a cleaner, more affordable energy future.
Our resources are limited here in Hawaii. To ensure the best foundation for
economic opportunities and growth in Hawaii we must cultivate a business friendly
climate to attract the necessary investment that will benefit us
and future generations. Capital investments – such as those
currently proposed by Hawaiian Electric and supported by NextEra or
others that the Public Utilities Commission ultimately determines
to approve – will be substantial and are important for Hawaii. We need to maintain an open business
climate, welcoming investments in Hawaii, to help create our desired future.
A key part of creating a more prosperous future for our state is
having the right energy partner willing and able to make the needed
investments to ensure clean, reliable and affordable electricity in
Hawaii. NextEra has the
capabilities, expertise, and the financial and technical resources
to be that partner. We support the Public Utilities Commission's
process to evaluate the NextEra Energy-HEI merger and trust that
the process will lead to reasonable conditions that will allow the
merger to move us forward in creating an affordable renewable
energy future for Hawaii."
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE:NEE) is a leading clean energy
company with consolidated revenues of approximately $17.5 billion, approximately 46,300 megawatts of
generating capacity, which includes megawatts associated with
noncontrolling interests related to NextEra Energy Partners, LP
(NYSE:NEP), and approximately 14,300 employees in 27 states and
Canada as of year-end 2015.
Headquartered in Juno Beach, Fla.,
NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves
more than 4.8 million customer accounts in Florida and is one of the largest
rate-regulated electric utilities in the
United States, and NextEra Energy Resources, LLC, which,
together with its affiliated entities, is the world's largest
generator of renewable energy from the wind and sun. Through its
subsidiaries, NextEra Energy generates clean, emissions-free
electricity from eight commercial nuclear power units in
Florida, New Hampshire, Iowa and Wisconsin. NextEra Energy has been recognized
often by third parties for its efforts in sustainability, corporate
responsibility, ethics and compliance, and diversity, and has been
ranked in the top 10 worldwide for innovativeness and community
responsibility as part of Fortune's 2015 list of "World's Most
Admired Companies." For more information about NextEra Energy
companies, visit these websites: www.NextEraEnergy.com,
www.FPL.com, www.NextEraEnergyResources.com.
Hawaiian Electric Company
Hawaiian Electric and its subsidiaries, Maui Electric and Hawaii
Electric Light, serve the islands of O'ahu, Maui, Lanai,
Molokai and Hawaii, home to 95 percent of the population
of Hawaii. Hawaiian Electric's
parent company is Hawaiian Electric Industries (NYSE: HE), which
has been named one of "America's 100 Most Trustworthy Companies
2015" by Forbes. In a changing world, the Hawaiian Electric
Companies are taking the lead in adding renewable energy and
developing energy solutions for their customers to achieve a clean
energy future for Hawaii. For more
information, visit www.hawaiianelectric.com.
FORWARD LOOKING STATEMENTS
This document contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are typically identified by words or
phrases such as "may," "will," "anticipate," "estimate," "expect,"
"project," "intend," "plan," "believe," "predict," and "target" and
other words and terms of similar meaning. Forward-looking
statements involve estimates, expectations, projections, goals,
forecasts, assumptions, risks and uncertainties. NEE and HEI
caution readers that any forward-looking statement is not a
guarantee of future performance and that actual results could
differ materially from those contained in any forward-looking
statement. Such forward-looking statements include, but are not
limited to, statements about the anticipated benefits of the
proposed merger involving NEE and HEI, including future financial
or operating results of NEE or HEI, NEE's or HEI's plans,
objectives, expectations or intentions, the expected timing of
completion of the transaction, the value, as of the completion of
the merger or spin-off of HEI's bank subsidiary or as of any other
date in the future, of any consideration to be received in the
merger or the spin-off in the form of stock or any other security,
and other statements that are not historical facts. Important
factors that could cause actual results to differ materially from
those indicated by any such forward-looking statements include
risks and uncertainties relating to: the risk that NEE or HEI may
be unable to obtain governmental and regulatory approvals required
for the merger or the spin-off, or required governmental and
regulatory approvals may delay the merger or the spin-off or result
in the imposition of conditions that could cause the parties to
abandon the transaction; the risk that a condition to closing of
the merger or the completion of the spin-off may not be satisfied;
the timing to consummate the proposed merger and the expected
timing of the completion of the spin-off; the risk that the
businesses will not be integrated successfully; the risk that the
cost savings and any other synergies from the transaction,
including the value of a potential tax basis step up, may not be
fully realized or may take longer to realize than expected;
disruption from the transaction making it more difficult to
maintain relationships with customers, employees or suppliers; the
diversion of management time and attention on merger and
spin-off-related issues; general worldwide economic conditions and
related uncertainties; the effect and timing of changes in laws or
in governmental regulations (including environmental); fluctuations
in trading prices of securities and in the financial results of
NEE, HEI or any of their subsidiaries; the timing and extent of
changes in interest rates, commodity prices and demand and market
prices for electricity; and other factors discussed or referred to
in the "Risk Factors" section of HEI's or NEE's most recent Annual
Reports on Form 10-K filed with the Securities and Exchange
Commission (the "SEC"). These risks, as well as other risks
associated with the merger, are more fully discussed in the
definitive proxy statement/prospectus that is included in the
Registration Statement on Form S-4 that NEE filed with the SEC in
connection with the merger. Additional risks and uncertainties are
identified and discussed in NEE's and HEI's reports filed with the
SEC and available at the SEC's website at www.sec.gov. Each
forward-looking statement speaks only as of the date of the
particular statement and neither NEE nor HEI undertakes any
obligation to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
NextEra Energy Contacts
Robert
L. Gould
Vice President, Chief Communications Officer
561-694-4442
Debra Larsson
Manager, Financial and Sustainability Communication
561-694-4442
Hawaiian Electric Company Contact
Lynne Unemori
Vice President, Corporate Relations
808-543-7972
Hawaiian Electric Industries Contact
A.J. Halagao
Manager, Corporate & Community Advancement
808-543-5889
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SOURCE Hawaiian Electric Industries, Inc.; NextEra Energy,
Inc.