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Public Utilities Commission of Nevada Approves Three NV Energy Renewable Energy Purchase Agreements

Dec 16, 2009

NV Energy announced that the Public Utilities Commission of Nevada has approved three separate long-term power purchase agreements for renewable energy that will benefit its customers during the next 25 years.

The approved contracts include a 20-megawatt solar photovoltaic project to be constructed near Searchlight, Nevada by American Capital Energy; a 26-megawatt solar photovoltaic project that will be constructed by a subsidiary of Fotowatio near Apex, Nevada; and an 11-megawatt landfill gas project at the Apex Regional Landfill to be completed by Energenic. A megawatt is enough energy to meet the year-round needs of a typical community of 1,000 people.

All three power purchase agreements stem from NV Energy's 2008 Request for Proposals for renewable energy. The three renewable energy contracts will contribute 171,000 MWhs per year of renewable energy and help NV Energy meet its renewable portfolio standard established by the Nevada State Legislature. The standard requires 20 percent of NV Energy's sales to be provided by renewable energy and energy conservation efforts by 2015, and that amount increases to 25 percent by 2025.

All three projects will be in operation by the end of 2011, with the American Capital Energy solar project set for completion at the end of next year.

Headquartered in Las Vegas, Nevada, NV Energy, Inc. is a holding company with principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, doing business as NV Energy. Serving a combined 54,500-square-mile service territory, NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada and nearly 40 million tourists annually. For more information, visit

These statements contain forward-looking statements regarding the future performance of 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 constructing and financing solar renewable energy projects, regulatory approval and permitting, and fluctuating PV output from the plants. 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 and in its Quarterly Report on Form 10-Q for the quarter ended March 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.

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SOURCE: NV Energy, Inc.

NV Energy, Inc.
Jennifer Schuricht, 702-402-5241