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Warren Buffett’s NV Energy to Make Largest Clean Energy Investment in Nevada History

The Public Utilities Commission of Nevada (PUCN) has approved NV Energy’s Integrated Resource Plan, which will bring 1,001 MW of new renewable energy projects to the state, including, for the first time, 100 MW of battery storage capacity. Three of the projects will be located in northern Nevada and three will be located in southern Nevada. All projects are expected to be completed and serving customers by the end of 2021.

“Earlier this year we made a promise to our customers that we would double our renewable energy by 2023 and today’s decision puts us closer to reaching that goal, as well as to our long-term commitment to serve them with 100 percent renewable energy,” said Doug Cannon, NV Energy President. “These six new projects, which represent the largest renewable energy investment in Nevada’s history, will also bring great economic benefits to our state.”

These projects represent a direct investment of more than $2 billion in our state’s economy. These six projects will be added to NV Energy’s current portfolio of approximately 50 solar, geothermal, hydro, wind, biomass, and supported rooftop solar projects – bringing NV Energy’s total renewable energy portfolio to approximately 3,000 MW of renewable energy in the state..

Six New Power Purchase Agreements:

Battle Mountain Solar Project – 101 MW solar photovoltaic project located near Battle Mountain, Nevada. Includes 25 MW of battery energy storage for a four-hour period. It is being developed by Cypress Creek Renewables..

Dodge Flat Solar Energy Center – 200 MW solar photovoltaic project located east of Reno, Nevada. It is being developed by NextEra Energy Resources, LLC.

Fish Springs Ranch Solar Energy Center – 100 MW solar photovoltaic project located north of Reno, Nevada. It is being developed by NextEra Energy Resources, LLC.

Eagle Shadow Mountain Solar Farm – 300 MW solar photovoltaic project located north of Las Vegas on land owned by the Moapa Band of Paiutes. It is being developed by 8minutenergy Renewables,

Copper Mountain Solar 5 – 250 MW solar photovoltaic project in Eldorado Valley, just south of Boulder City, Nevada. It is being developed by CED Southwest Holdings, Inc., a subsidiary of Consolidated Edison, Inc., CED Southwest Holdings, Inc., owns and operates nearly 2,600 MW of renewable generating capacity serving 17 states.

Techren Solar V – 50 MW solar photovoltaic project in Eldorado Valley, just south of Boulder City, Nevada. It is being developed by Techren Solar LLC and will be adjacent to Techren Solar I, II, III and IV, which currently are in the construction stage.

The utility also is set to close the North Valmy 1 coal-fired generating unit in Humboldt County by December 31, 2021, four years ahead of schedule.

NV Energy is owned by Warren Buffett’s Berkshire Hathaway. In November of this year, Nevada voters rejected a measure to let customers choose their own electricity provider by 2023, preserving the near monopoly NV Energy Inc. holds in the state.