HE

Hawaiian Electric Industries, Inc. (HEI) operates as a holding company serving Hawaii through two primary subsidiaries: Hawaiian Electric Company and American Savings Bank. Hawaiian Electric Company and its subsidiaries provide electric utility services to approximately 95% of Hawaii's population across the islands of Oahu, Hawaii, Maui, Lanai, and Molokai, serving roughly 465,000 customers. The utility operates generation, transmission, and distribution facilities with an increasing focus on renewable energy integration and grid modernization. American Savings Bank, Hawaii's third-largest financial institution, provides retail banking services through over 50 branches statewide, offering residential mortgages, commercial loans, and deposit products. Headquartered in Honolulu, Hawaii, HEI employs approximately 2,800 people across its operations. The company faces ongoing regulatory proceedings and financial challenges related to the 2023 Maui wildfires, which have significantly impacted its operations and financial position. Hawaiian Electric has committed to substantial investments in grid hardening, wildfire mitigation measures, and accelerating Hawaii's clean energy transition, targeting 70% renewable energy by 2030. The utility operates in a unique regulatory environment as Hawaii's primary electricity provider, managing island-specific infrastructure challenges while navigating the state's ambitious renewable energy mandates and increasing pressure for enhanced safety protocols.