NV Energy, Inc. (NYSE: NVE) and Solar Millennium, LLC, together with its joint venture partner MAN Ferrostaal Inc., are considering developing one or more large-scale solar power facilities in southern Nevada.
The companies have signed a memorandum of understanding.
The initial project under consideration is a 250-megawatt (MW) solar trough technology plant at a site located in Nye County that includes thermal storage, enabling the plant to produce energy beyond daylight hours during hot summer months when electricity demand is at its highest. Plans call for the project to be completed in 2013-14, depending on permitting, financing and other government approvals.
Referring to the Economic Stimulus Bill, Christian Beltle, CEO of Solar
Millennium AG, said, “We hope to find the support from the involved
agencies to be able to permit the power plants such that we can start
construction no later than 2010.”
The companies are studying thermal storage technology, which is similar to that being used at several Solar Millennium projects in Spain. They are also undertaking transmission and environmental studies, and reviewing financing options.
Headquartered in Las Vegas, Nevada, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy.
Solar Millennium, LLC in Berkeley, Calif., is the U.S. subsidiary of Solar Millennium AG (S2M.F), a globally active company in the renewable energy sector focused on the design, development and operation of solar thermal power plants.
MAN Ferrostaal Inc. is the U.S. subsidiary of MAN Ferrostaal AG, a global construction and engineering company with 4,200 people in 60 different countries and annual revenue of more than $2.2 billion.
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