NV Energy, Ram Power Sign PPA For Geothermal Plant In Nevada

Published: 10-Feb-2010

NV Energy has signed a 20-year power purchase agreement (PPA) with a subsidiary of Ram Power for energy that will be produced by a geothermal power plant under development in central Nevada. The 32MW Clayton valley geothermal project is expected to be generating electricity by 2014.

The generating plant is being developed on one of five geothermal leases that Ram Power has acquired from the Bureau of Land Management in Esmeralda county, approximately halfway between Reno and Las Vegas. According to the developer, Clayton valley has sufficient geothermal resources to produce up to 160MW of electricity, which is enough to serve up to 96,000 households. The project will be developed and operated by Ram Power subsidiary Clayton valley 1.

Michael Yackira, president and CEO of NV Energy, said: “We’re pleased to add more clean renewable energy to our supply portfolio and to expand our use of geothermal power. The advantage of geothermal energy is that it’s available for our customers around the clock.”

NV Energy currently has more than 1,000MW of geothermal, solar, biomass, hydro, waste-heat recovery and wind energy under contract or in the project development stage.

Hezy Ram, CEO of Ram Power, said: “Based on the 25 years of geothermal project development that Ram Power management has enjoyed in Nevada, we look forward to a successful project and the start of a new era in geothermal power generation in the state. We anticipate the project will be eligible for various federal and state tax incentives once completed.”

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