Oracle’s Larry Ellison says Lanai to be a model of sustainability
Duane Shimogawa Reporter- Pacific Business News
Oracle Corp. CEO Larry Ellison spoke publicly about the island of Lanai Tuesday for the first time since buying the Hawaiian island in June, saying he plans to turn it into a laboratory for sustainability.
Ellison, appearing on the CNBC show “Closing Bell,” talked mostly about the future of his software business, noting that Oracle (Nasdaq: ORCL) is focusing on growing organically and not planning to make any large acquisitions over the next couple of years.
Of his purchase of Lanai, Ellison told CNBC’s Maria Bartiromo: “It’s going to be [a] model for sustainable enterprise.”
He went on to say that he hopes to run the island on solar photovoltaic and solar thermal energy.
“We have drip irrigation where we are going to have organic farms all over the island,” he said. “Hopefully we are going to export produce — really, the best organic produce to Japan and elsewhere.”
Ellison also said he wants more electric cars on the island and eventually turn it into a laboratory for sustainability of small scale.
“We are going to support the local people and help them start these businesses,” he said.
Eliison’s few statements are the most he has said publicly about his reported $500 million purchase of Lanai in June from fellow billionaire David Murdock, CEO of Castle & Cooke, Inc.
Does it mean renewable energy besides solar?
Maybe. Murdock still has the rights to develop the so-called “Big Wind” wind energy project on 7,000 acres on Lanai, with the capacity to produce up to 400 megawatts of energy.
Castle & Cooke has remained mum on that project.
Meanwhile, Ellison’s influence has already been at work on Lanai, with the reopening of the community pool and changes to at least one of the resorts.
Source: Pacific Business News