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Sierra Pacific signs 50 MW solar power contract |
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| USA: December 23, 2002 | ||
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LAS VEGAS - Sierra Pacific Resources Corp. (SRP.N) said last week it has signed long-term contracts with Duke Solar Energy LLC to receive the output of a 50 megawatt solar power plant.
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Raleigh, North Carolina-based Duke Solar Energy, which is not affiliated with Charlotte, North Carolina-based Duke Energy Corp. (DUK.N), is seeking approval from state regulators to build the plant near Boulder City, Nevada. Las Vegas-based utility Nevada Power has contracted for about two-thirds of the power and Reno, Nevada-based utility Sierra Pacific Power the other third. Both utilities are units of Sierra Pacific Resources. One megawatt is roughly enough power for 1,000 homes. The contracts are part of the two utilities' actions to comply with legislation that requires the use of a certain percentage of renewable energy sources - solar, wind, geothermal and biomass - to generate electricity for customers within the state. "With the addition of this solar contract and the geothermal and wind contracts we recently signed, we expect to be able to satisfy the renewable portfolio requirements for both utilities for the year 2005 and exceed the requirement for the year 2006," said Walt Higgins, chairman, president and CEO of Sierra Pacific Resources.
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REUTERS NEWS SERVICE
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