November 25, 2024
NV Energy Issues Solicitation for New Renewables
Ormat geothermal plant in eastern Nevada.
Ormat geothermal plant in eastern Nevada. | Ormat
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NV Energy is seeking proposals for renewable energy projects to add to its portfolio, including solar, hydroelectric, geothermal, wind, biomass or biogas.

NV Energy is seeking proposals for renewable energy projects to add to its portfolio, including solar, hydroelectric, geothermal, wind, biomass or biogas resources.

The projects must be at least 20 MW and be in operation by Dec. 31, 2025. The utility is also considering proposals for renewable energy resources coupled with energy storage systems.

The application deadline is May 18.

NV Energy will consider buying existing renewable energy resources, including solar and wind projects, through an asset purchase agreement (APA). The utility is also open to build-transfer agreements (BTAs) for new solar and wind.

The utility said it’s not interested in APAs or BTAs for geothermal, hydroelectric, biomass or biogas projects. But proposals for power purchase agreements will be accepted for any of the renewable energy technologies.

NV Energy said it would evaluate proposals based on factors including the economic benefit to Nevada, job opportunities in the state and value to its customers. The utility noted that projects chosen through the RFP will still need approval from the Public Utilities Commission of Nevada.

The projects will help NV Energy meet the renewable portfolio standard set by the state. Under Senate Bill 358 of 2019, the percentage of electricity sold that must come from renewable resources is 29% this year, increasing to 50% in 2030.

More information on the request for proposals is here.

Tax Breaks Offered

NV Energy’s solicitation comes as the Nevada Governor’s Office of Energy continues to offer tax breaks to encourage renewable energy projects in the state. GOE administers the Renewable Energy Tax Abatement (RETA) program, which was launched in 2009.

GOE announced on Friday that five renewable energy projects approved for tax abatements last year will boost the state’s renewable energy capacity by 1,166 MW. The state’s existing capacity is just under 5,000 MW.

In addition, the projects are expected to pump about $1.5 billion into Nevada’s economy.

“Our RETA program creates jobs, brings large economic investments into the state, and maximizes use of Nevada’s abundant renewable energy resources to help reach our renewable portfolio standard of 50% of power generation from renewable sources by 2030,” GOE Director David Bobzien said in a statement.

The five projects approved for tax breaks last year are Dry Lake Solar, Gemini Solar and Boulder Flats Solar in Clark County; Citadel Solar in Storey County; and Ormat’s North Valley Geothermal Development Project in Washoe County.

So far this year, one project — Arrow Canyon Solar in Clark County — has been approved for abatements. GOE received an application this year for one additional project, Iron Point Solar in Humboldt County.

The RETA program reduces sales and use tax and property tax for renewable energy facilities approved for the abatement.

In exchange for the tax breaks, companies must agree to operate in the state for at least 10 years with a production capacity of 10 MW or more. At least half of their employees must be Nevada residents.

And hourly wages must be higher than the statewide average: at least 110% of average for operational jobs and at least 175% of average for construction jobs.

CAISO/WEIMEmployment & Economic ImpactGeothermalHydropowerNevadaOnshore WindOnshore Wind PowerSolar PowerState and Local PolicyUtility-scale Solar

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