MGM Resorts Secures Solar Power Agreement in Nevada

• MGM Resorts partners with Estuary Power for a groundbreaking solar project, set to double their renewable energy access and power 28,000 homes by 2026. Clean energy is on the rise!

MGM Resorts International has announced a new 25-year power purchase agreement (PPA) with Estuary Power for a 115-MW solar-plus-storage project in Lincoln County, Nevada. This initiative, named the Escape Solar + Storage project, is anticipated to be completed by early 2026 and will double MGM’s access to solar electricity.

The facility will generate sufficient clean energy to power over 28,000 homes annually, supported by a 100-MW/400-MWh battery energy storage system. Currently, MGM already meets 90% of daytime energy needs at 11 Las Vegas Strip properties through solar power, and this new agreement aims to achieve 100% renewable energy coverage.

How will MGM's new solar project impact its renewable energy goals in Nevada?

- Expansion of Renewable Energy Portfolio: MGM's new solar project significantly contributes to the company's broader commitment to sustainability, enhancing its portfolio of renewable energy initiatives in Nevada.

- Increased Solar Capacity: With the addition of this 115-MW solar facility, MGM will effectively double its access to solar energy. This expansion symbolizes a strong move toward increasing capacity and reducing reliance on non-renewable sources.

- Energy Independence: The Escape Solar + Storage project allows MGM to gain greater energy independence, especially useful in the face of fluctuating energy prices and potential supply disruptions in the traditional power grid.

- Environmental Impact: By generating enough clean energy to power over 28,000 homes annually, the project emphasizes MGM’s commitment to reducing its carbon footprint and promoting environmental sustainability within the hospitality industry.

- Battery Storage Technology: The integration of a 100-MW/400-MWh battery energy storage system will enable MGM to store excess energy produced during peak sunlight hours. This stored energy can be utilized during periods of high demand or at night, enhancing the reliability of its renewable energy supply.

- Job Creation and Economic Benefits: The development of the Escape Solar + Storage project is expected to create jobs during the construction and operational phases. This aligns with MGM’s goal of supporting local economies while investing in sustainable energy solutions.

- Timeline for Implementation: The project is slated for completion by early 2026, showcasing MGM's strategic planning and commitment to timely implementation of renewable energy initiatives.

- Progress Towards 100% Renewable Energy: This agreement advances MGM's goal of achieving 100% renewable energy coverage across its properties in Las Vegas. By already meeting 90% of daytime energy needs through solar, this project fills the remaining gap, marking an important milestone in the company’s renewable energy journey.

- Alignment with State and National Goals: MGM's initiative aligns with Nevada’s broader goals for renewable energy generation and sustainability, supporting state mandates aimed at increasing renewable energy production.

- Corporate Responsibility and Branding: Implementing a robust renewable energy strategy enhances MGM’s brand image as a leader in corporate responsibility and sustainability, which is increasingly important to consumers and investors alike.

- Potential for Future Projects: This project may pave the way for future renewable energy undertakings by MGM or inspire similar initiatives within the hospitality industry, leading to a broader shift towards sustainable practices across multiple sectors.