Three of the projects would be located in northern Nevada and three in southern Nevada. The company has filed this resource plan with the Public Utilities Commission of Nevada.
NV Energy’s Chief Executive Officer Paul Caudill said that the renewable energy expansion is the largest such investment in the state’s history.
“The six new projects position NV Energy to keep its commitment to double renewable energy by 2023 and, importantly, by diversifying our state’s electricity generation portfolio, will reduce the costs to serve customers.
“We calculate that the direct investment in Nevada’s economy, which includes the cost of construction, will be greater than $2 billion,” Caudill stated.
He noted the company expects more than 1,700 construction workers will be needed and approximately 80 new long-term, permanent jobs will be created.
“Work on this resource planning effort began not long after the 2017 state legislative session ended and demonstrates that we are navigating the uncertainties in the current market, given Question 3 on the statewide ballot,” Caudill stated.
Question 3 is the “Legislature to Minimize Regulations on the Energy Market and Eliminate Legal Energy Monopolies Amendment”. It is on the ballot in Nevada as an initiated constitutional amendment to be voted on November 6, 2018.
A yes vote supports the amendment to require the Nevada Legislature to establish an “open, competitive retail electric energy market” and eliminate monopolies. A no vote opposes the amendment.
In Nevada, initiated constitutional amendments need to be approved in two even-numbered election years. On the ballot as Question 3 in 2016, this amendment has been approved once.
NV Energy is the state’s largest utility, which stands to lose its regulated monopoly on supplying power generation if the amendment passes.
Caudill noted that NV Energy has the option not to proceed with the proposed plan in the event Question 3 passes, in order to avoid increasing the liabilities and risks to NV Energy customers as described in the PUCN’s April 2018 report on Question 3.
The six new solar energy projects and three related battery-energy storage resources are the result of a competitive solicitation initiated in January of this year. If the projects proceed it is expected they will be completed and serving customers by the end of 2021. The resource plan filing requires approval of the Public Utilities Commission of Nevada.
