NV Energy boasts “lowest-cost” PPAs for 2 proposed solar projects
NV Energy continues to add low-cost renewables to its resource mix, and is now asking the Public Utilities Commission to approve three new long-term power purchase agreements totaling 100 MW, all to be constructed in the state. These projects are particularly notable in light of an upcoming vote next year that could give Nevadans the right to shop for their energy on the competitive retail markets.
The Turquoise Nevada project, at 50 MW, would be the largest array in northern Nevada and is a joint venture of Estuary Capital Advisors and Sumitomo Corporation of Americas.
The other two new proposed 25-year power purchase agreements are the result of a request for proposals that was issued by NV Energy in June. The 25 MW Techren Solar 3 project will serve customers in southern portion of Nevada, while the other 25 MW Techren Solar 4 project will serve customers in the north. If approved, the new solar energy projects will be operational by Sept. 1, 2020.
While the new 100 MW of proposed solar capacity is news in itself, it is the cost on the smaller two projects likely to draw the most attention.
“To the best of our knowledge, Techren 3 and 4 are the lowest-cost universal solar power purchase agreements entered into in the United States,” Pat Egan, NV Energy senior vice-president, renewable energy and smart infrastructure, said in a statement.