January 23, 2014
NV Energy and Great Basin Transmission South officially dedicated the 231-mile long One Nevada Transmission Line (ON Line), marking the completion of a three-year project that electrically connects NV Energy's northern and southern service areas for the first time. ON Line also enables the development of renewable energy in remote parts of Nevada.
The bulk transmission line is energized to 500,000 volts and has an initial capacity of up to 800 megawatts.
The line runs from the Harry Allen Generating Station north of Las Vegas to the new Robinson Summit Substation located just west of Ely, Nev. Eleven separate renewable energy projects are now being served by the new line, which also enhances the overall energy-sharing efficiencies of NV Energy's 10 generating stations located throughout Nevada.
Michael Yackira, NV Energy chief executive officer, said, "The One Nevada Transmission Line plays a vital role in the development of renewable energy that will benefit our customers. This project also helps to strengthen our reliability, as well as provide important dispatch capabilities that will help our customers save on energy."
Paul Caudill, NV Energy president, said, "The development of this important transmission asset is an indicator of NV Energy's desire to find new and better ways to serve our customers, while preserving the environment and natural habitat that make Nevada such a special place."
Nevada Senator Harry Reid said, "Construction of this transmission line created hundreds of jobs for Nevadans, thanks to the public-private partnership that was made possible by the Recovery Act. This vital project will deliver hundreds of megawatts of clean renewable energy to the grid. Completion of the ON Line transmission project is an important step towards unlocking Nevada's vast clean energy potential and strengthening our state's electric grid for the future."
Great Basin Transmission South, an affiliate of LS Power, owns 75 percent of the line, and NV Energy owns 25 percent of an undivided ownership interest in the project. NV Energy has rights to 100 percent of the line's initial capacity until LS Power completes other potential project phases, collectively known as the Southwest Intertie Project (SWIP).
Mike Segal, Chairman of LS Power, said, "We are proud to be a part of this important project for the State of Nevada which helps improve grid reliability, efficiency and delivery of renewable energy. We appreciate the efforts of NV Energy, the Department of Energy and the entire ON Line team in realizing this milestone."
The U.S. Department of Energy (DOE) provided a $343 million loan guarantee to Great Basin Transmission South to help finance the project. This is the first and only large scale transmission project in the portfolio managed by DOE's Loan Programs Office.
Sturgeon Electric Company, a MYR Group subsidiary, provided construction services for the transmission line, and Wilson Utility Construction Co. built the new substation in White Pine County, Nev.
The project also includes a new four-mile-long intertie line that connects the new line and substation to NV Energy's northern service territory.
NV Energy, Inc.
NV Energy, Inc. provides a wide range of energy services to 1.3 million customers throughout Nevada and nearly 40 million tourists annually. NV Energy is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. The company is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company's website, Twitter, Facebook and YouTube pages, which can be accessed via nvenergy.com.
Great Basin Transmission South, LLC
Great Basin Transmission South, LLC is a single-purpose company formed to finance, construct, and own the ON Line Project. GBT South is an affiliate of LS Power, a leading independent power generation and transmission company. For more information, visit www.LSPower.com
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the future performance of NV Energy, Inc. (the "Company"). When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The Company's expected results may not be achieved, and actual results may differ materially from expectations. This may be a result of various factors outside the control of the Company that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including the risks related to future economic conditions, future or existing Nevada or federal laws or regulations affecting the electric industry, changes in environmental laws and regulations, financial market conditions and the Company's ability to maintain access to the capital markets, and operating and maintaining an electric and natural gas system. Unless the context suggests otherwise, references herein to the "Company" include the consolidated subsidiaries of the Company, including Nevada Power Company d/b/a NV Energy and Sierra Pacific Power Company d/b/a NV Energy.
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NV Energy, Inc.
6226 W Sahara Ave
Las Vegas, Nevada
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