NV Energy Files Annual Renewable Portfolio Report

NV Energy Files Annual Renewable Portfolio Report

Apr 21, 2025 9:27 AM

NV Energy served its customers with almost 47 percent renewable energy in 2024. This furthers NV Energy's efforts to provide customers with a reliable, affordable and sustainable energy supply. These renewable resources provide a fuel-free energy source reducing customer energy costs and also eliminate carbon emissions to help improve the environment.

NV Energy reported reaching an overall renewable portfolio standard (RPS) of 46.8 percent. The 2025 report covers activities from the 2024 calendar year. NV Energy's report will be formally reviewed and approved by the PUCN. This year, the standard is set at 34 percent. By 2030, the standard will increase to 50 percent.

"NV Energy continues to invest in renewable energy resources where those resources reduce costs for our customers and improve reliability to ensure we are meeting the peak summer energy demands of the communities we serve, and our progress toward the renewable portfolio standard is proof of that commitment," said NV Energy President and CEO Doug Cannon. "Our teams continue to balance cost and reliability with sustainable energy and are hard at work with external partners on new and innovative approaches to ensure renewable energy development continues in Nevada in an economic manner."

Due to the state's abundance of sunshine, solar energy is the primary source of renewable energy for the company, but the company's portfolio of renewable energy also includes wind, hydro and geothermal energy.

A few notable renewable projects that came online for NV Energy in 2024 include:

• Gemini: a contracted 690-megawatt solar facility with 380 megawatts of integrated battery storage, declared commercial operation on March 25, 2024.
• Dry Lake Solar and Battery Storage: an NV Energy-owned, 150-megawatt solar facility with 100 megawatts of integrated battery storage, declared commercial operation on May 2, 2024.

Construction is underway for NV Energy's Sierra Solar project, a 400-megawatt solar \site with 4-hour battery storage system in Northern Nevada. The battery energy storage system is expected to be in service in July 2026, with the solar expected to be in service by April 2027.

Last year, NV Energy was approved to move forward with more than 1,000 new megawatts of solar and 1,000 new megawatts of battery storage through contracts. These projects are in various stages of development. Approved projects include:

• Dry Lake East: a 200-megawatt project expected to be in service by the end of 2026. The project will also include a 200-megawatt battery with a 4-hour duration (800MWh). The project will be 20 miles northeast of Las Vegas in Clark County.
• Boulder Solar III: a 128-megawatt project expected to be in-service in June 2027. The project will also include a 128-megawatt battery with a 4-hour duration (511.4 MWh). The project will be in Boulder City.
• Libra Solar: a 700-megawatt project expected to be in service by the end of 2027. The project will also include a 700-megawatt battery with a 4-hour duration (2,800 MWh). The project will be about 20 miles south of the Fort Churchill substation in Yerington, located in Mineral County near the Mineral County/Lyon County border.

NV Energy continues to seek cost-effective and reliable renewable energy solutions for customers to ensure the company can meet the state mandates while providing reliable and affordable energy for a growing customer base.

This filing has been assigned Docket No. 25-04014 by the PUCN.

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About NV Energy

NV Energy provides a wide range of energy services to more than 1.5 million customers throughout Nevada and a typical annual tourist population of 54 million. NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, do business as NV Energy. NV Energy is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company's website, LinkedIn, Instagram, Facebook, X and YouTube pages, which can be accessed via nvenergy.com.

Contact: Meghin Delaney, meghin.delaney@nvenergy.com