Parties undertaking transmission and environmental studies, and reviewing financing options

NV Energy and Solar Millennium, together with its joint venture partner MAN Ferrostaal, have entered into a memorandum of understanding for potential development of one or more solar power facilities in southern Nevada.

The initial project under consideration is a 250MW solar trough technology plant at a site located in Nye County that includes thermal storage, enabling the plant to produce energy beyond daylight hours during hot summer months when electricity demand is at its highest. Plans call for the project to be completed in 2013-2014, depending on permitting, financing and other government approvals.

Under the agreement, the parties are studying thermal storage technology, which is similar to that being used at several Solar Millennium projects in Spain. They are also undertaking transmission and environmental studies, and reviewing financing options.

Michael Yackira, president and CEO of NV Energy, said: Solar technologies have been making great strides in the last several years. It is now reasonable to believe that projects like this one will be capable of providing reliable power supply as part of a mix of resources that will include other types of renewable resources as well as clean and efficient traditional generation such as natural gas-fired plants.