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Renewable energy contracts signed

Tuesday, Oct. 26, 2004 | 10:52 a.m.

Nevada Power Co. of Las Vegas and Sierra Pacific Power Co. of Reno announced on Monday the signing of three renewable energy contracts.

The deals involve Nevada Power's agreements to purchase renewable energy credits from the Las Vegas Valley Water District's planned 3.1 megawatts solar power plant and a solar array constructed on top of the Your Vitamins Inc. plant in Henderson.

Nevada Power expects to pay the water district $20 million over 20 years. Financial terms of the 20-year contract with Your Vitamins were not disclosed.

Sierra Pacific Power also announced a deal with Ormat to buy credits from three already operating geothermal plants in Northern Nevada.

The utilities said the deals will mean about 7.5 percent of their electricity generated in Nevada will come from renewable resources, and they will meet about 12 percent of the required solar generation levels mandated by a 2001 state law.

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