June 28, 2021
Invenergy and AEP Renewables Solar Project Lights Up Las Vegas Strip
100-megawatt Mega Solar Array begins commercial operations, supplying clean energy to power MGM Resorts International’s 13 Las Vegas properties
CHICAGO (June 28, 2021) – Invenergy, a leading privately-held global developer and operator of sustainable energy solutions, and AEP Renewables, a subsidiary of American Electric Power (AEP), today announced the start of commercial operations at the 100-megawatt MGM Resorts Mega Solar Array project in Nevada. The project supports the renewable energy goals of MGM Resorts International, supplying up to 90% of MGM Resorts’ daytime power needs at its 13 Las Vegas Strip properties.
Located in the desert north of Las Vegas, the Mega Solar Array generates enough electricity to power about 27,000 average U.S. homes annually. The project supported approximately 250 jobs during the construction period and will generate over $12 million of property tax revenue over the 35-year project operating life and $1.3 million in state sales tax revenue as well as indirect benefits to local businesses.
Developed and constructed by Invenergy, the Mega Solar Array is contracted under a 20-year Power Purchase Agreement (PPA) with MGM Resorts International, a partnership which was announced in 2018. MGM Resorts will purchase all the energy generated by the project to power 65 million square feet of buildings across 13 properties in Las Vegas.
AEP Renewables has invested in the project at 75% ownership interest, and Invenergy retains minority ownership. Invenergy Services, a subsidiary of Invenergy, will provide Operations and Maintenance and Balance of Plant services under a long-term agreement, adding to the 10-gigawatt global sustainable energy project portfolio it manages.
“The start of commercial operations at the Mega Solar Array is a significant milestone, and we’re proud to celebrate this achievement with our partners,” said Ted Romaine, Senior Vice President of Origination, at Invenergy. “Invenergy is a leading partner to companies like MGM Resorts who are increasingly focused on sustainability, and we commend the company’s dedication to investing in clean energy to power its operations.”
“The Mega Solar Array is another valuable addition to AEP Renewables’ growing portfolio of clean energy projects,” said Greg Hall, president of AEP Renewables. “We look forward to our continued partnership with Invenergy as we provide renewable, emissions-free energy to power MGM Resorts, which will help the company reach its sustainability goals and reduce its carbon footprint.”
"MGM Resorts is deeply committed to fighting climate change and protecting our planet, and the MGM Resorts Mega Solar Array is an important part of our efforts," said Jyoti Chopra, Chief People, Inclusion and Sustainability Officer at MGM Resorts International. “We are proud of the fact that MGM Resorts and the Las Vegas Strip are now home to the largest directly sourced renewable energy project in the worldwide hospitality industry.”
MGM Resorts, through the 100-megawatt PPA, significantly accelerates progress toward its 2025 goal to reduce emissions by 45% per square foot. The launch of the project builds on multiple efforts by MGM Resorts to achieve its long-term climate goals, including having invested over $60 million in energy efficiency in its U.S. properties from 2007 and 2019.
As a leading partner to commercial and industrial renewable energy customers, Invenergy has contracted more than 4,500 megawatts of wind and solar capacity to support different corporate users across a variety of industries in reaching their sustainability goals.
We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Colombia, Japan, Poland and Scotland. Invenergy has successfully developed more than 29,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation facilities as well as advanced energy storage projects. For more information, please visit www.invenergy.com.
About AEP Renewables
AEP Renewables, with offices in Columbus, Ohio, and San Diego, is a wholly owned subsidiary of AEP. AEP Renewables currently owns and operates 1,600 megawatts of large-scale wind, solar and energy storage in 11 states and has an active development pipeline across the U.S. AEP Renewables sells renewable energy through long-term contracts with utilities, electric cooperatives, municipalities and corporate customers. For more information, visit www.aeprenewables.com.
American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP’s approximately 16,800 employees operate and maintain the nation’s largest electricity transmission system and more than 223,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including more than 5,500 megawatts of renewable energy. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com.