NV Energy proposes to spend billions on solar, natural gas and transmission projects | Energy | Business - Las Vegas Review-Journal

NV Energy proposes to spend billions on solar, natural gas and transmission projects | Energy | Business

Ratepayers to foot most of the bill on new NV Energy projects

NV Energy filed a resource plan to the Public Utilities Commission on Friday, May 31, 2024, outlining what projects the utility needs to build including three solar fields, two natural gas turbines and new transmission infrastructure projects and upgrades. (Getty Images)

NV Energy has filed a plan to spend large amounts of cash to add resources to its system to keep pace with Nevada’s growth.

NV Energy filed a resource plan to the Public Utilities Commission on Friday outlining what projects the utility needs to build including three solar fields, two natural gas turbines and new transmission infrastructure projects and upgrades. The plans also include a billion-dollar price increase on the Greenlink Nevada transmission project. The plan became accessible to the public on Thursday.

The updated cost for the Greenlink Nevada project is now about $4.1 billion, an increase of about $1.2 billion from the last estimate NV Energy provided in February.

“In recent years, the cost of transmission infrastructure construction has seen a notable increase based on inflation, supply chain constraints, and labor rate escalations. The Greenlink project has not been immune to that increase,” NV Energy said in its application.

The two natural gas turbines, which would cost $573.3 million, are proposed for the North Valmy Generating Station in Humboldt County. The turbines would generate more than 400 megawatts of power, NV Energy said. The three solar fields, which would have varying price tags, would generate more than 1,000 megawatts of solar energy and battery storage.

One megawatt of energy can power 750 - 1,000 homes, according to the California Independent System Operator, which oversees the California energy market. So NV Energy’s proposed natural gas turbines could power 300,000 - 400,000 homes and the solar projects combined could power 750,000 to 1 million homes.

The natural gas turbines should be in service by mid-2028, and the solar projects should come online sometime between 2026 and 2027.

.

The plan includes over 20 transmission projects and upgrades that would total around $813.2 million. These transmission projects should all be finished between 2026 and 2031, NV Energy said.

NV Energy CEO Doug Cannon said the resource plan balances the needs to grow the company’s network and customer concerns on prices.

“This is our path forward and these are our priority projects to meet the present and long-term needs of our current and future customers,” said Cannon, in a statement. “The requested resources present a balanced portfolio that will reduce NV Energy reliance on expensive and unreliable market resources and will position Nevada to continue to provide reliable energy services at a cost that is below the national average and is more than 50 percent cheaper than energy rates paid by residents of California.”

If approved and constructed, NV Energy customers will pay for the majority of the cost of the projects with higher electric rates.

The PUC has 180 days to consider NV Energy’s resource plan, meaning a decision should be made by the end of November.

This story is developing. Check back later for updates.

Contact Sean Hemmersmeier at shemmersmeier@reviewjournal.com. Follow @seanhemmers34 on X.