NV Energy and NextLight Renewable Power, LLC Announce 25-Year Power Purchase Agreement for Solar Project

Silver State Solar Power is located on Bureau of Land Management land, and will interconnect at NV Energy’s Bighorn substation adjacent to the project site. The project will use solar photovoltaic technology to generate clean, emissions-free energy. Slated to commence construction as early as December 2010, the project will employ up to 230 workers during construction and is targeted for initial energy deliveries in May 2011.

NV Energy’s President and Chief Executive Officer Michael Yackira said the addition of a significant amount of solar resources is very important to the company and its customers, as it complies with the Nevada Renewable Energy Act that requires 6 percent of the total renewable energy credits to come from solar resources. “We are pleased to be part of NextLight’s project and taking another step forward in utilizing the abundant solar resources in our state for the benefit of our customers,” he said.

Frank De Rosa, NextLight’s CEO, stated that “NV Energy is a key strategic partner in the region and has the vision to bring renewable energy into the mainstream of electricity generation. Southern Nevada has all of the attributes necessary to make this a successful solar project: suitable land, superior insolation, ready access to transmission, a skilled workforce and a business-friendly climate.”

The Silver State Solar Power project is one of more than 41 proposed or existing renewable energy facilities that are benefiting NV Energy customers in Nevada. NV Energy currently has more than 1,200 megawatts of geothermal, solar, biomass, waste-heat recovery and wind energy under contract that are either in commercial operation or in the project development stage.

The specific terms of the NextLight power purchase agreement were not disclosed. The long-term agreement stems from NV Energy’s 2009 Request for Proposals for renewable energy and requires approval by the Public Utilities Commission of Nevada.

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 approximately 2.4 million citizens of Nevada as well as approximately 40 million tourists annually.

Headquartered in San Francisco, California, NextLight Renewable Power, LLC is the nation’s leading independent utility-scale solar power development company, with eight photovoltaic projects totaling over 1,300 MW in advanced stages of development and 570 MW under contract with major Western utilities. NextLight was formed in 2007 by the inaugural fund of Energy Capital Partners, a private equity firm, to respond to the growing demand for clean, carbon-free, utility-scale renewable energy. Together, NextLight and Energy Capital Partners combine expertise in project development and financial resources to build, own and operate successful, utility-scale solar generating facilities.