HI HB1622

Authorizes issuance of up to $180,000,000 in special purpose revenue bonds to assist Bana Pacific Inc., a Hawaii corporation, in constructing a biogas production facility

The facility will convert locally sourced biomass, agricultural byproducts, and organic waste into biogas and renewable natural gas for power generation, transportation, and industrial applications

The project will incorporate advanced technologies to produce green hydrogen using renewable energy sources, supporting Hawaii's goal of 100% renewable energy by 2045

Bond authorization requires allocation of the annual state ceiling for the period July 1, 2026, through December 31, 2028, with authorization lapsing on June 30, 2031

The project aims to reduce Hawaii's dependence on imported fossil fuels, divert organic waste from landfills, create jobs, and reduce wildfire risks through improved land management