Acciona Connects to the Nevada Grid the World’s Largest Solar Thermal Plant in 16 Years

BOULDER CITY, Nevada--(BUSINESS WIRE)--Acciona Solar Power, a world leader in the design, development and ownership of solar thermal technologies, has announced that its Nevada Solar One project, the largest-capacity solar power plant built in the world in 16 years and the third-largest of its kind, has begun supplying power to the Nevada Power grid. The plant represents an investment of more than $250 million.

Acciona Solar Power, a majority-owned subsidiary of Acciona Energy, a world leader in renewable energies, built Nevada Solar One over the course of 16 months. The 64-MW solar thermal power plant covers 400 acres in the Eldorado Valley and utilizes large-scale, parabolic trough technology to enable heat transfer from the sun’s rays to ultimately generate up to 134 million kW hours of electricity per year, enough to power 15,000 households annually.

All of the plant’s electricity production is being sold to Nevada Power Company and Sierra Pacific Power Company under long-term power purchase agreements (PPAs). The PPAs will ensure fixed costs for the electricity, making solar power an economically feasible energy alternative over time.

"We are extremely pleased to be a part of this breakthrough project with Acciona," said Roberto Denis, senior vice president of energy supply for Sierra Pacific Resources (NYSE:SRP), parent company of Nevada Power and Sierra Pacific Power. "Not only is solar energy a perfect fit in a state with such an abundant amount of this natural resource, it helps us to diversify our energy mix which ultimately benefits our customers."

Utilizing Concentrated Solar Power (CSP) technology to concentrate the sun’s rays and proprietary tracking technology to track the sun’s location during peak demand hours, Nevada Solar One’s parabolic troughs collect heat from the sun and transfer renewable power during times of greatest need. Solar thermal technology ultimately provides clean and reliable energy when and where it is needed most.

Planned testing and additional ramp-up procedures are currently in process, with commercial operation expected to commence within approximately a week’s time.

“Solar thermal technology is one of the most exciting renewable energy sources emerging today that is scalable and commercially viable,” said Pete Duprey, CEO, Acciona Energy North America. “Nevada Solar One represents a new opportunity for large-scale renewable energy production in the United States, and Acciona looks forward to continuing our efforts in providing greater fuel diversity options in the North American market.”

Acciona’s official dedication ceremony for the Nevada Solar One plant is expected to occur in fall 2007. Concurrently, the company is helping to develop several additional solar plants in Spain.

About Nevada Power and Sierra Pacific Power

Nevada Power Company is a regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy in the southern Nevada communities of Las Vegas, North Las Vegas, Henderson, Searchlight, Laughlin and their adjoining areas. The company also provides electricity to Nellis Air Force Base, the Department of Energy at Mercury and Jackass Flats at the Nevada Test Site. Nevada Power Company provides electricity to approximately 800,000 residential and business customers in a 4,500 square mile service area.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for most of southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California. Sierra Pacific Power Company also distributes natural gas in the Reno-Sparks area of northern Nevada.

About Acciona

Acciona Energy is the largest wind developer in the world with a portfolio of more than 4,500 megawatts installed in 169 wind farms in 10 countries. In solar energy, the company’s Nevada Solar One project represents the largest solar thermal electric power plant (64 MW) built in the world in the last 16 years, in addition to the company’s 29 MW installations of photovoltaic power and a 46 MW photovoltaic solar plant under development in Portugal. In the area of biomass, Acciona maintains three biomass plants (33 MW) and small hydro power plants (59 MW). In biofuels, the company produces biodiesel from vegetable oils and bioethanol from surplus wine.

Acciona is one of the premier international corporations working in the development and management of infrastructure services and renewable energy sources, employing more than 38,000 people worldwide. Acciona is listed on the IBEX-35 in Spain with a market capitalization of approximately $17.27 billion.

For more information, please visit our website at www.acciona-energy.com.