Pacific Business News - David Murdock said his company, Castle & Cooke, will retain the rights to develop a potential wind farm on Lana'i after the sale of the Hawaiian island to billionaire Larry Ellison closes.
Ellison, founder and CEO of Oracle Corp., is buying 98 percent of Lana'i from Murdock in a deal worth hundreds of millions of dollars.
Murdock, through a statement issued by Castle & Cooke, said he will keep his home on Lana'i and would keep the rights to the wind farm planned for the remote northwestern part of the island.
At one time, the island was to become the home of the 200-megawatt leg of a 400-megawatt wind project, which also included a wind farm planned for Molokai, with the electricity generated to be piped to O'ahu via an undersea cable.
Because the project encountered controversy in the community and complications with state regulators, the project remains in limbo.
Lana'i is also home of one of Hawai'i's largest solar farms, the 1.2-megawatt La Ola, which supplies 10 percent of the island's electricity.