NV Energy & American Capital Energy Sign 20-MW PPA

NV Energy Inc. and American Capital Energy (ACE) have entered into a long-term power purchase agreement (PPA) for the sale of energy produced from a 20-megawatt (MW) solar photovoltaic (PV) power plant that will be constructed near Searchlight, Nevada, 55 miles south of Las Vegas.

The project, expected to be completed by mid-2010, will be larger than the 14-MW photovoltaic facility completed in 2007 at Nellis Air Force Base. The Nellis plant, toured by President Obama on a recent visit to Las Vegas, is the largest PV facility currently operating in the United States. Terms of the power purchase agreement, which is subject to approval by the Public Utilities Commission of Nevada, were not disclosed.

“This is another major step in our commitment to bringing power from renewable resources to the citizens of Nevada,” said Michael Yackira, NV Energy president and CEO. “Our state is blessed with abundant solar, geothermal and wind resources, and expanding the use of these resources through power purchases of this kind or direct investment in renewable projects is one of our top priorities.”

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

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