Hawaiian Electric Co. and partners Referentia, the University of Hawaii and the Hawaii Natural Energy Institute will receive more than $5 million of the $3.4 billion in federal stimulus money that President Barack Obama today said would support 100 projects aimed at modernizing the nation’s power grid.

A news release from the offices of U.S. Sens. Daniel K. Inouye and Daniel K. Akaka said the money will allow HECO “to invest in modern electrical grid improvements that will reduce power outages on Oahu while preserving jobs.”
The $3.4 billion in grants will be matched by $4.7 billion in private investments. The smallest grant will be $400,000 and the largest $200 million.
“We have a very antiquated (electric grid) system in our country,” Carol Browner, assistant to the president for energy and climate change, said today. “The current system is outdated, it’s dilapidated.”
Matt Rogers, the Energy Department official involved in the program, said the 100 projects were selected from 400 proposed. The money will be distributed over the next two months and the work is expected to be done over the next one to three years, he said.