More wind power is coming to Oahu.

Wind energy company First Wind broke ground Friday, for the state's largest wind project so far.

The company will build 30 wind turbines in the hills above Kawailoa, across from the popular surf spot Chun's Reef.

The new Kawailoa Wind farm is First Wind's fourth project in Hawaii.

It will produce 69 megawatts and generate enough electricity to power more than 14,500 Oahu homes, said Paul Gaynor, First Wind's CEO.

The company said Kawailoa Wind will produce enough local renewable energy to supply up to 10 percent of Oahu's total electric load.

Both First Wind and Hawaiian Electric Company said it's another big step in stabilizing electricity rates on Oahu.

"We know what the price is. So, it doesn't matter if oil goes to $200 a barrel. The price coming from the wind farm is set," Gaynor said.

The negotiated price is the current price of oil, said HECO President and CEO Richard Rosenblum.

"And the consequence means because it doesn't go up in the future, that as oil gets higher and higher and higher, this price stays the same. What this means for our consumer is stable, low-priced energy for our future," Rosenblum said.