NV Energy, Renewable Ventures sign agreement on 26 MW solar array

Las Vegas, August 14, 2009 – NV Energy and Renewable Ventures, a Fotowatio company, entered into a long-term power purchase agreement for energy produced from a 26-MW DC solar photovoltaic power plant to be constructed near Apex, Nevada.

The project, slated for completion by the end of 2010, will be the second solar PV agreement that NV Energy has announced in the past month, following the agreement with American Capital Energy for energy from a 20 MW DC array in Searchlight, Nevada.

Terms of the power purchase agreement, which is subject to approval by the Public Utilities Commission of Nevada, were not disclosed.

The agreement will help NV Energy in meeting Nevada’s portfolio standard, which was recently increased by the state’s legislature. The standard now requires that 25 percent of energy be generated by renewable resources and energy efficiency and conservation programs by 2025.

The companies said all of the electricity produced by the solar power plant will be used by customers of NV Energy’s southern service territory. The project will create about 200 jobs during construction and is expected to produce enough energy during operations to power an estimated 5,000 homes annually.

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