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Arevia Power, a utility-scale solar developer, has finalized a power purchase agreement (PPA) with NV Energy for one of the largest solar and energy storage projects in Nevada.
Under the agreement, NV Energy will purchase power generated by the 700 MW Libra solar project, situated 20 miles south of the Fort Churchill substation in Yerington, Nevada.
The ambitious project comprises 700 MW of solar capacity paired with a 700 MW / 2800 MWh battery energy storage system. This battery storage infrastructure aims to ensure reliable power year-round, with a particular focus on serving rural Nevada. Spanning 5,141 acres upon completion, the majority of the project’s generation infrastructure will be located in Lyon County.
Scheduled to commence commercial operations in 2027, the project is expected to employ 1,100 individuals during development and construction, contributing $250 million in direct wages.
The International Brotherhood of Electrical Workers (IBEW) will supply labor for the project and also participate as an investor through GCM Grosvenor’s Infrastructure Advantage Strategy.
Kenneth Cooper, President of IBEW, commented, “With the Libra project, we are taking another step toward a sustainable future that also delivers the type of high-paying middle-class jobs the people of Nevada deserve.”
Over its lifecycle, the project anticipates generating $170 million in personal property and sales taxes.
Pending approval through the Integrated Resource Plan (IRP) submitted by NV Energy, the project is poised to be a cornerstone of the utility’s renewable energy strategy. The IRP includes three solar and battery power purchase agreements (PPAs), totaling over 1,000 MW of solar energy and more than 1,000 MW of battery storage.
The PPAs within the IRP framework will be developed, owned, and operated by third parties, supplying their projects’ output to NV Energy. These endeavors are forecasted to aid the utility in meeting state renewable energy standards while offering fixed-cost energy pricing for customers.
Arevia received counsel from Patrick Groomes and Brenda Hanzl, who also advised the company in previous negotiations with NV Energy for the 690 MW Gemini solar and energy storage project. |
