Arevia, NV Energy ink deal for 700-MW Nevada solar project

• Experience the power of renewable energy with Arevia Power's groundbreaking solar-plus-storage complex in Nevada, set to revolutionize the state's energy landscape.

Arevia Power, backed by KKR, has signed a power off-take deal with NV Energy for the 700-MW Libra solar-plus-storage complex in Nevada. The PPA will involve selling the solar farm's generation at a fixed price, with the duration of the contract unspecified. The project will be installed on public lands managed by the BLM in Mineral County, Nevada, with an estimated annual output of 1.95 million MWh and a four-hour battery energy storage system.

The solar-storage complex, costing over USD 2.3 billion, will be the largest of its kind in Nevada and is expected to be operational by the end of 2027. The deal is part of NV Energy's 2024 Integrated Resource Plan, which includes three PPAs for over 1 GW of solar and energy storage capacity.

What is the significance of Arevia Power's power off-take deal with NV Energy?

• The power off-take deal between Arevia Power and NV Energy for the 700-MW Libra solar-plus-storage complex in Nevada is significant as it represents a major step towards increasing renewable energy capacity in the state.
  
• The PPA will involve selling the solar farm's generation at a fixed price, providing stability for both parties involved in the agreement.
  
• The project will be installed on public lands managed by the BLM in Mineral County, Nevada, showcasing the potential for renewable energy development on federal lands.
  
• With an estimated annual output of 1.95 million MWh and a four-hour battery energy storage system, the solar-storage complex will play a crucial role in enhancing grid reliability and stability.
• The complex, costing over USD 2.3 billion, will be the largest of its kind in Nevada, highlighting the state's commitment to transitioning towards a cleaner energy future.
• The deal is part of NV Energy's 2024 Integrated Resource Plan, which aims to increase solar and energy storage capacity in the state, demonstrating the utility's dedication to meeting renewable energy goals.