NV Energy Increases Power Purchases from Renewable Sources

NV Energy and Renewable Ventures signed a joint agreement for power purchases. The long-term contract will supply energy from a solar PV power plant in Nevada that operates at 26 MW. NV Energy will purchase power generated by the plant built by Renewable Ventures, which will be completed in 2010.

The Renewable Ventures power plant will see the creation of 200 new jobs while under construction. The PV solar plant will be the second plant that NV Energy has signed purchasing agreements with, all in a bid to meet the Nevada State standards for renewable energy requirements.

“Continuing to add clean energy resources to our portfolio is a core element of our company’s three-part energy supply strategy,” said Michael Yackira, NV Energy president and CEO. “We are working diligently to keep Nevada at the forefront in use of solar energy by continuing to tap into the abundant resources that our state is blessed with.”

The state’s renewable energy standards were recently raised by a vote in the state’s legislature. The new standards will now require companies to purchase 25 percent of their energy from renewable sources such as solar and wind energy. Additionally, the standards will promote an increase in energy efficiency and conservation from energy companies by 2025.

NV Energy now has purchasing agreements with the Renewable Ventures project, as well as American Capital Energy which has a 20 MW solar facility also in Nevada.\

Thanks to renewableenergyworld.com for the above quote, for more information on this story please visit their website.