Future of Transportation
As the world awaits Elon Musk’s master plan for Tesla, we provide a glimpse into America’s master plan for transportation on this week’s podcast.
Reuben Sarkar, the deputy assistant secretary for transportation at the Department of Energy, joins us to talk electric cars, natural gas cars, autonomous cars, car efficiency and how the public sector can make automotive innovation easier in the private sector. We ask him: How optimistic should we really be about what all the changes underway in the sector?
In the second half of the show, we’ll discuss the end of nuclear power in California. We’ll also ask about Sungevity’s novel approach to going public — a worrying sign, or a clever way to raise money?
In December 2014, energy giant NextEra Energy offered to acquire Hawaiian Electric Industries in a transaction valued at $4.3 billion, which includes the assumption of $1.7 billion in HEI debt. HEI shareholders would receive a premium of approximately 21 percent on the share price. Citigroup Global Markets was the financial advisor to NextEra Energy. J.P. Morgan Securities advised HEI.
NextEra owns and operates a sizable share of U.S. wind and utility-solar capacity and a number of nuclear reactors. As Hawaii’s utility, HEI supplies power to almost half a million customers on Hawaii, Oahu and Maui. Hawaii has the nation’s highest electricity prices, and roughly 75 percent of the island’s electrical power comes from imported oil. The entire island chain of Hawaii has just 2,400 megawatts of generating capacity.
On the day of the proposal, NextEra CEO James Robo said that NextEra would “find Hawaiian solutions to Hawaiian problems.”