NV Energy Seeks Regulatory Approval for Additional Solar Energy and Geothermal Energy Projects

NV Energy (NYSE: NVE) is seeking approval from the Public Utilities Commission of Nevada to enter into long-term power purchase agreements for 50 megawatts of new solar energy from two proposed photovoltaic projects in southern Nevada and 51 megawatts from a new geothermal project slated for Churchill County, Nev.

Additionally, NV Energy is requesting permission to enter into long-term agreements with Amonix, a global leader in designing and manufacturing concentrated photovoltaic solar power systems. NV Energy will purchase Renewable Portfolio Standard "credits" that will be produced by various Amonix solar projects in the City of North Las Vegas. The Amonix solar power systems and some of the credits will be produced at the company’s new manufacturing facility in the City of North Las Vegas.

The new power purchase agreements include a 30-megawatt (AC) solar photovoltaic project east of the City of North Las Vegas to be built by California-based Fotowatio Renewable Ventures; a 20-megawatt (AC) solar photovoltaic project that will be in the City of North Las Vegas by Florida-based NextEra Energy Resources; and a 51-megawatt nameplate capacity geothermal project near Dixie, Nev. to be built by Reno-based Ormat Technologies.

NV Energy’s President and CEO Michael Yackira said, "Over the last year, we’ve made great strides with our renewable energy development efforts, and with these pending applications we will have nearly 1,300 megawatts of very diverse renewable energy that is either producing or in the development stages."

If the Public Utilities Commission of Nevada approves these new contracts, NV Energy’s renewable energy portfolio will include 1,281 nameplate-rated megawatts of energy from 23 geothermal projects, 13 solar projects, four biomass projects, five small hydro projects, two wind projects and one energy recovery station.

The company expects to meet or exceed the 2011 requirement of 15 percent and is on track to reach the state-mandated requirement of 25 percent by 2025.

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.