NV Energy Signs 26-MW Solar PV PPA with Renewable Ventures

NV Energy and Renewable Ventures have entered into a long-term power purchase agreement (PPA) for the sale of energy produced from a 26-megawatt (MW) solar photovoltaic power plant that will be constructed near Apex, Nevada. 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 approximately 200 jobs during construction.

The Renewable Ventures project, expected to be completed 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 (ACE) for energy from a 20-MW array in Searchlight, Nevada.

“Continuing to add clean energy resources to our portfolio is a core element of our company’s three-part energy supply strategy,” said Michael Yackira, NV Energy president and CEO. “We are working diligently to keep Nevada at the forefront in use of solar energy by continuing to tap into the abundant resources that our state is blessed with.”

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.


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