Holu Hou Energy LLC (HHE), Borqs Technologies Inc.’s majority owned solar energy storage systems subsidiary, has signed with developers and property owners for nine solar plus energy storage projects in the State of Hawaii totaling $49.8 million, as of the last day of Q2 2022. Eight of the nine projects were located on Oahu Island, while one is on Hawaii Island.
These projects will be implemented as soon as Q3 2022 and completed by 2023. These customers all purchased HHE’s unique energy storage systems. This includes its fully differentiated solar plus storage system, which has Energy Share technology for residential multi-dwelling units. HHE’s Energy Share technology enables 25% more delivered energy with 50% fewer batteries.
“With such solid results from our marketing efforts in Q2, we are on track to sign onto over $140 million of contracts this year surpassing our previous forecast of $128 million,” says Pat Chan, founder and CEO of Borqs. “This demonstrates our ESG strategy can achieve a rather aggressive growth path. We are truly thrilled that HHE’s uniqueness is increasingly recognized by the renewable energy market. These recent signed contracts in Q2 testified for the customers’ awareness of the HHE advantages and that we have a competitive edge over with many brands that are much more well-known than us.”
“This is the tip of the iceberg, I believe the market will welcome our technological advances over the competition when more and more prominent clients are entrusting HHE with their energy storage needs,” Chan adds. “There is a lot more to come from Hawaii in the coming quarters and we are excited about the potentials in California as well.”