KIUC Almost Too Good to be True...Certainly Premature

Regarding Hallelujah, some progress at last by KIUC, see today from:

http://www.honoluluadvertiser.com/article/20091015/NEWS01/910150360/Kaua+i+power+deal+forged

Thursday, October 15, 2009
"Kauai power deal forged"
New plant will use sugar cane, wood to produce electricity
By Diana Leone Honolulu Advertiser

"...PacWest and KIUC expect to sign a formal power purchase agreement within 60 days, a news release from KIUC said. When approved by the KIUC and PacWest boards of directors, it will be submitted to the Hawai'i Public Utilities Commission...
The next steps for PacWest include:
• Firming up its financing.
• Leasing 12,000 to 15,000 acres of land to grow either sugar cane or fast-growing wood to produce the electricity...
'We're building momentum but there are still a lot of obstacles and milestones we have to pass.'"

So that press release yesterday was more of the same, probably intended to take off pressure. It's still just talk. They got a long ways to go.