A solar-plus-storage venture valued at greater than $2.33 billion is getting ready for development after receiving a Document of Resolution (ROD) from the U.S. Dept. of the Inside.
Arevia Energy on September 10 introduced the Libra Photo voltaic Challenge, that includes 700 MW of solar energy era capability paired with 700 MW of battery power storage, will transfer ahead on almost 5,800 acres. The set up is sited about 20 miles south of the Fort Churchill substation in Yerington, Nevada, on public lands managed by the Bureau of Land Administration (BLM). Yerington is about 70 miles south of Reno.
The BLM not too long ago mentioned it was taking a look at 31 million acres of public lands within the western U.S. for potential improvement of solar energy tasks.
Arevia on Tuesday mentioned the venture ought to produce 1,948,000 MWh yearly. The ROD authorizes the right-of-way grant for the venture, together with the development and operation of the photo voltaic photovoltaic facility and related infrastructure. The venture’s modern design ensures dependable energy provide year-round, notably benefiting rural Nevada, in response to the builders.
Arevia intends to promote energy from the Libra venture to Nevada utility NV Power below a 25-year contract.
Driving Financial Improvement
“This venture showcases the potential of renewable power to drive financial improvement whereas addressing local weather change,” mentioned Nevada U.S. Rep. Steven Horsford. “The Libra Photo voltaic Challenge will deliver over 1,000 good-paying jobs to Mineral and Lyon counties and ship long-term advantages to our communities. I’m thrilled to see Nevada main the way in which in renewable power manufacturing.”
Las Vegas-based Arevia Energy, based in 2015, is an unbiased U.S. utility-scale photo voltaic and wind developer. The corporate has originated greater than 12 GW of greenfield renewable property totally on federal and state lands all through the U.S. The corporate beforehand has been concerned with improvement of the Gemini Photo voltaic + Storage Challenge in Nevada.
“The Libra Photo voltaic Initiative is greater than only a step in direction of a sustainable future; it’s bringing actual financial alternative for Nevada and placing meals on the tables of working-class Nevadans,” mentioned Kenneth Cooper, Worldwide President of the IBEW, a commerce union representing electrical sector staff. “By creating high-paying, middle-class jobs and guaranteeing strong labor requirements, we’re not solely constructing renewable power infrastructure but additionally investing within the prosperity of our communities. This venture is proof that the Biden-Harris administration’s renewable power tax credit, coupled with robust labor requirements, are a blueprint for the success of communities and dealing households.”
BLM Help
Ricardo Graf, chief improvement officer and managing accomplice at Arevia Energy, mentioned, “We additionally wish to acknowledge the invaluable help of Nevada BLM Director Jon Raby and Carson Metropolis District Supervisor, Kim Dow, whose management and dedication at each the BLM State and District ranges have been instrumental in transferring the Libra Photo voltaic Initiative ahead, guaranteeing that we are able to proceed to make a distinction in each the surroundings and the communities we serve.”
“The Bureau of Land Administration is pleased with the work we now have finished with our companions and communities on the Libra Photo voltaic venture,” mentioned Raby. “This venture will deliver jobs to communities right here in Nevada and assist to proceed the development of renewable power right here in our state.”
Arevia on Tuesday mentioned the Libra venture is anticipated to start development quickly. Business operation is anticipated by year-end 2027. Energy from the venture is anticipated to be moved on NV Power’s 525-kV Greenlink West transmission line, which is able to run about 350 miles from Yerington to Las Vegas. The Greenlink West line is anticipated to be commissioned by mid-2027.
NV Power as a part of its built-in useful resource plan filed with the Nevada Public Utilities Fee mentioned it is going to pay $34.97/MWh for power and portfolio credit, with none worth escalation over the lifetime of the contract. The utility within the IRP, being reviewed by the fee mentioned the capability worth for the storage portion of the ability buy settlement is $13,350/MW per thirty days, with no escalation for 20 years, and no value for the remaining 5 years of the contract.
NV Power instructed the fee the contract has a levelized value of power, together with community improve prices, of $93.69/MWh.
—Darrell Proctor is senior editor for POWER (@POWERmagazine).
