Wednesday, June 19, 2024
Hawai'i Free Press

Current Articles | Archives

Saturday, February 11, 2017
Most 2016 GEMS Loans Went to One Insider
By Andrew Walden @ 9:12 PM :: 7928 Views :: Energy, Ethics


7000 Hawaii Kai Drive

by Andrew Walden

Touting its “biggest loan ever” Hawaii’s flailing $150M Green Energy Market Securitization Program (GEMS) scheme recently announced an $861,500 loan to pay for two solar installations on top of high-end rental units at 7000 Hawaii Kai Drive on Oahu. 

What they didn’t tell you:  The developer of 7000 Hawaii Kai, Christine Camp, is a board member of Blue Planet Foundation—the locus of green crony capitalism in Hawaii.  Blue Planet Foundation Executive Director, Jeff Mikulina, is vice chair of the Hawaii Green Infrastructure Authority (HGIA) which oversees the GEMS scheme. 

After pitching GEMS to the legislature as a scheme to benefit low income homeowners—paid for by a $1.29 per month charge on your electric bill--the program is quickly evolving into just another scam to shovel ratepayer money to rich political insiders and developers.

An August 26, 2016 DBEDT PUC filing sought to redirect GEMS funding to several new beneficiaries including “associations that administer apartments or condominiums….  result(ing) in a reduction of maintenance and common area fees for the association’s residents.”  Camp tells reporters: “We’re going to be paying 16 cents per kilowatt-hour.”  And who enjoys those savings?   The ‘affordable’ 3br units at 7000 Hawaii Kai go for $2635 a month.  

Just seven weeks later at the HGIA Loan Committee October 19, 2016, Camp’s loans were approved in spite of the fact that 7000 Hawaii Kai had not secured PUC approval for ‘grandfathering’ its Net Energy metering applications.  The State PUC subsequently rejected 7000 Hawaii Kai at its December 6, 2016 meeting on technical grounds. 

Insider trading is now part of GEMS sales pitch to the legislature.  According to minutes of Mikulina’s report to the HGIA Board December 23, 2016, “the Authority expects to end 2016 with more than $1.0 million in residential PV loans funded.”  Camp’s loan would be about 86% of that total. 

And what future does HGIA envision for GEMS?  More cronyism, of course.  In its 2016 Annual Report to the Legislature (pg4), HGIA explains it could write more loans if only its Board had more insiders:

“Board Needs More Energy Stakeholders. ... Changing the composition of the board to include more energy stakeholders would enable the Authority to react more quickly to market changes and deploy capital for green infrastructure investments in a timely manner to help meet the state’s clean energy goals and objectives.”




TEXT "follow HawaiiFreePress" to 40404

Register to Vote


Aloha Pregnancy Care Center


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


Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

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 Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together


Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii


OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii