The new solar energy project is the result of a Request for Proposals that was issued earlier this year. With the oversight of an independent evaluator, NV Energy signed a 25-year power purchase agreement with Techren Solar LLC to build a 100-megawatt high-efficiency single-axis solar photovoltaic project in Eldorado Valley. The project is in the development phase and, subject to regulatory approval, is expected to be operational in the fourth quarter of 2018.
NV Energy's Senior Vice President of Energy Supply Kevin Geraghty noted that the selection criteria for the new solar project was primarily based on the best value to NV Energy customers, but also factored in economic and job benefits to Nevada.
"At an average cost of energy for the life of the project at approximately four cents per kilowatt-hour, this is one of the lowest-cost solar projects in the nation. And, we are very pleased with the fact that Techren has already signed a work-site agreement with local unions 357 and 396 of the International Brotherhood of Electrical Workers," Geraghty said.
NV Energy has requested that the Public Utilities Commission of Nevada make a decision on the filing by the end of 2016.
Most NV Energy customers are not aware that they already are benefitting from more than 40 solar, geothermal, wind, hydro and other renewable energy technologies being produced in Nevada. More than 300 megawatts of new solar energy is in the construction stage, and this new 100-megawatt Techren Solar project would bring NV Energy's total renewable energy portfolio to more than 1,900 megawatts. If all were producing at the same time, that would be enough energy to serve more than a million average homes.
About NV Energy, Inc.
NV Energy, Inc., provides a wide range of energy services to 1.3 million customers throughout Nevada and more than 40 million tourists annually. NV Energy is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, do business as NV Energy. NV Energy is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company's website, Twitter, Facebook and YouTube pages, which can be accessed via nvenergy.com.
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SOURCE NV Energy