NV Energy to Serve Nevada Customers With More Low-Cost Renewable Energy

LAS VEGAS, Jan. 9, 2018 /PRNewswire/ -- NV Energy today issued a request for proposals that could add up to 330-megawatts of new renewable energy projects to be built in Nevada.  This additional commitment to renewable energy, which includes the potential integration of battery energy storage systems, will provide enough carbon-free electricity to power approximately 200,000 Nevada homes. 

"As important as this opportunity is to further the state's desire for clean energy, equally important is that we expect to deliver these renewable projects to customers without increasing rates," said NV Energy's President and Chief Executive Officer Paul Caudill.

"Since 2009, NV Energy has more than tripled its in-state renewable energy production and our electricity prices today are 15 percent lower than they were at that time.  We expect these new projects to provide some of the lowest-cost renewable energy available in the market, which will directly benefit our customers.  In fact, adding these new renewable projects serves to diversify the portfolio we use to provide power across the state and protects against the risk of increases in the price of natural gas used to generate electricity," Caudill said.

The request for proposals seeks solar, geothermal, wind, biomass and biogas technology projects that are compliant with Nevada's existing renewable portfolio standards.  NV Energy will also, for the first time, consider adding supplemental battery energy storage systems that are integrated with the proposed renewable energy resource.  Projects will be competitively evaluated on a number of factors, including best value to customers of NV Energy and creation of economic benefits to the State of Nevada. 

"Renewable energy projects like these result in employment of construction trades and create longer term operations and maintenance opportunities," Caudill stated.  He noted that the company is ultimately driving to become 100 percent renewable, but the shorter-term goal is to double its renewable energy delivery to customers by 2023. 

NV Energy requests that all parties interested in becoming a bidder for this opportunity should register on the company's website at https://www.nvenergy.com/2018RERFP and follow each of the directives under the "Steps to Complete" section of the website.

Bids are due February 2, 2018.  Projects proposed by successful bidders would require the approval of the Public Utilities Commission of Nevada.  It is anticipated the projects would be completed and producing energy for customers by 2020 or 2021.

NV Energy provides a wide range of energy services to 1.3 million customers throughout Nevada and more than 40 million tourists annually. NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. The company 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.

SOURCE NV Energy

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