In Nevada, NV Energy will add in 1,001 megawatts of renewable energy and 100 megawatts of energy storage as it retires one of two coal plants in the state four years early. The Warren Buffet-controlled company is making a $2 billion investment for the company that promises to keep energy costs in the state low.
“Earlier this year we made a promise to our customers that we would double our renewable energy by 2023 and today’s decision puts us closer to reaching that goal, as well as to our long-term commitment to serve them with 100 percent renewable energy,” said Doug Cannon, NV Energy President. “These six new projects, which represent the largest renewable energy investment in Nevada’s history, will also bring great economic benefits to our state.”
The company is making six power purchase agreements for 30 years each, each at reportedly under $30 per megawatt hour. The the 250 MW Copper Mountain Solar 5 farm will have the lowest cost to start at $21.55 per megawatt hour. The other projects included are the 101 megawatt Battle Mountain Solar Project, the 200 MW Dodge Flat Solar Energy Center, the 100 MW Fish Springs Ranch Solar Energy Center, the 300 MW Eagle Shadow Mountain Solar Farm, and the 50 MW Techren Solar V project.
The Battle Mountain Solar Project includes 25 megawatts of battery energy storage, the Dodge Flat Solar Energy Center includes 50 megawatts of battery energy storage and the Fish Springs Ranch Solar Energy Center includes 25 megawatts of battery energy storage. Each energy storage system can provide four hours of energy storage.
The company’s Integrated Resource Plan was approved by the Public Utilities Commission of Nevada (PUCN) on Dev. 21. The plan also includes retiring one of its coal fired power plants early, in 2021 and it could also shutter its other coal plant in the state early. It announced other plans to retire a coal plant early in 2013.
The company said the projects will reduce its costs of electricity in the state when compared to the wholesale cost of energy. All of the projects are slated for completion by the end of 2021. During their construction the projects are expected to create 1,700 jobs and 80 new, long-term jobs. Buffet’s Berkshire Hathaway electric utilities have been adding in more wind and solar power for years.
When the projects are completed NV Energy will have roughly 3,000 megawatts of renewable energy in the state. The company said that when they’re completed it will have roughly 50 renewable energy installations between solar, geothermal, hydro, wind, biomass, and its supported rooftop solar projects.Tweet