LAS VEGAS, Mar 10, 2010 (BUSINESS WIRE) -- NV Energy (NYSE: NVE) and Waste Management (NYSE: WM) today announced a 20-year power purchase agreement for the sale of renewable energy produced from a three-megawatt landfill gas-powered project to be located southeast of Reno at Waste Management's Lockwood Landfill. The facility is expected to be generating renewable energy by late 2011.

The Lockwood Plant will use landfill gas extracted from a series of wells at the landfill and use that gas in a state-of-the-art turbine-generator to make renewable electricity for NV Energy customers. Waste Management currently has 115 landfill gas-to-energy facilities operating at its landfills throughout North America.

NV Energy's CEO and President Michael Yackira noted that the Lockwood Landfill project provides an environmental benefit for Nevada, as well as a reliable and consistent renewable energy resource for customers.

"This project is noteworthy because it recovers otherwise unused landfill gas, cleans the gas with the latest technology, and then uses that gas as fuel to generate renewable energy for our customers," Yackira said.

Waste Management's Area Vice President Alex Oseguera said, "We take a once-wasted commodity and turn it into a long-term, reliable source of renewable energy, which is a major environmental plus for local communities."

NV Energy currently has more than 1,200 megawatts of geothermal, solar, wind, biomass, small hydro, and waste-heat recovery under contract that are either in commercial operation or in the project development stage.

This project also helps move Waste Management toward meeting one of its sustainability goals of doubling its renewable energy production.

The agreement is subject to the approval of the Public Utilities Commission of Nevada.

About NV Energy

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.For more information, visit www.nvenergy.com

About Waste Management

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. The company is the largest residential recycler and a leading developer, operator and owner of waste-to-energy facilities in the United States. Customers include residential, commercial, industrial, and municipal users throughout North America. To learn more visit www.wm.comor www.thinkgreen.com.

These statements contain forward-looking statements regarding the future performance of NV Energy, Inc., and Nevada Power Company d/b/a NV Energy within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, risks related to regulatory approval and permitting, and risks related to construction of the project. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, are contained in the Annual Reports of NV Energy, Inc. and Nevada Power Company d/b/a NV Energy on Form 10-K for the year ended December 31, 2009 filed with the SEC. NV Energy undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.