NV Energy seeks approval for four renewable energy agreements

Las Vegas, April 1, 2010 – NV Energy recently submitted four new Power Purchase Agreements for approval by the Public Utilities Commission of Nevada that would add about 132 MW of renewable energy for utility customers during the next 20 or more years.

The contracts include a 50-MW solar photovoltaic project to be constructed near Primm, Nevada by NextLight Renewable Power; a 3.2-MW landfill energy project in Storey County, Nevada by Waste Management; a 53.5-MW geothermal project in central Nevada by Ram Power; and a 25-MW geothermal project in Elko County by Reno-based Ormat Technologies.

These four projects alone can meet the year-round electricity needs of a community of about 100,000 people. NV Energy now has 1,240 MW of geothermal, solar, wind, biomass, small hydro and waste-heat recovery projects under contract that are either in commercial operation or in the project development stage.

All four new power purchase agreements stem from NV Energy’s 2009 renewable energy request for proposals. The four renewable energy contracts will help NV Energy meet its renewable portfolio standard established by the Nevada State Legislature.

Currently, the standard requires 12 percent of NV Energy’s sales to be provided by renewable energy and energy conservation efforts, and that amount ratchets up at specific intervals until it reaches 25 percent by 2025.

Notably, the company increased production of renewable credits by 22 percent from 2008 to 2009 for its renewable portfolio. NV energy added 491 MW of contracts for new renewable energy projects in the last 12 months, including the most recent 132 MW.

Headquartered in Las Vegas, Nevada, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy.

Serving a combined 54,500-square-mile service territory that stretches north to south from Elko to Laughlin, NV Energy provides a wide range of energy services and products to about 2.4 million citizens of Nevada as well as about 40 million tourists annually.

 

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