News Releases

NV Energy and Western Area Power Administration Sign M.O.U. to Study Nevada to California/Southwest Transmission Projects

Oct 30, 2009

NV Energy, Inc. and the Western Area Power Administration (Western) have signed a Memorandum of Understanding under which the parties intend to explore the potential development of 500-kilovolt transmission lines and associated facilities to access renewable energy resources and deliver those resources to electricity users in Nevada, California, Arizona and other markets in the Southwest U.S.

Western is a power marketing agency of the U. S. Department of Energy. This potential partnership aligns with section 402 of the American Recovery and Reinvestment Act of 2009, which granted Western $3.25 billion in borrowing authority for building transmission lines to deliver or facilitate the delivery of power generated by renewable energy resources.

According to Michael Yackira, the company's President and Chief Executive Officer, NV Energy submitted a proposal in response to a "request for interest" from Western, and this preliminary agreement is another important step in helping to deliver the rich renewable resources of Nevada to where they are most needed.

"NV Energy is already leading Nevada in the development and use of renewable energy, and we are excited about partnering with Western to help our customers, as well as all electricity users served by Western throughout the West," Yackira said.

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.

These statements contain forward-looking statements regarding the future performance of 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, changes in research and development in solar technologies, risks related to constructing, operating and financing solar renewable energy projects, risks related to regulatory approval and permitting, and regulatory treatment of costs associated with constructing and operating solar renewable energy projects. 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, 2008, 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.

For further information:

SOURCE: NV Energy, Inc.

NV Energy, Inc.
Media Contact:
Rob Stillwell, 702-402-5683
Analyst Contact:
Britta Carlson, 702-402-5624