(Reuters) – Hawaiian Electrical Industries (NYSE:) is among the many defendants who’ve agreed to pay $4 billion to settle lawsuits over the lethal Maui wildfires, the corporate stated on Friday.

The utility working on the island and its father or mother, Hawaiian Electrical, are responsible for $1.99 billion of the quantity earlier than tax, which incorporates $75 million beforehand contributed to the One Ohana Initiative.

Settlement funds will start after judicial approval and are anticipated to be comprised of mid-2025, Hawaiian Electrical stated in an announcement.

Hawaiian Electrical and defendants together with county officers confronted lawsuits over the blazes that tore by Maui final yr, killing at the very least 100 individuals, destroying 1000’s of properties and inflicting injury estimated at $5 billion.

The lawsuits claimed the utility didn’t shut off energy traces regardless of warnings that top winds would possibly blow them down and spark wildfires.