LAS VEGAS, Oct. 23, 2014 /PRNewswire/ -- NRG Energy,
Inc. (NYSE: NRG) and MGM Resorts International (NYSE: MGM) today
announced the completed installation of the world's largest rooftop
solar array on a convention center. Covering approximately 20 acres
atop the Mandalay Bay Resort and Casino, the 6.4 megawatt (MW dc)
[5.0 megawatt ac (MW ac)] photovoltaic array will produce enough
electricity to power the equivalent of approximately 1,000 U.S.
homes annually and is the first of its kind on the Las Vegas
Strip.
In conjunction with the celebration, MGM Resorts and NRG also
announced plans to build an additional 2 MW dc (1.5 MW ac)
photovoltaic array atop a future expansion of the Mandalay Bay
Convention Center, scheduled to begin construction later this
year.
"Today marks a major milestone for MGM Resorts, NRG and the
entire Las Vegas community," said
Jim Murren, Chairman and CEO of MGM
Resorts International. "The completion of this solar array
demonstrates our steadfast commitment to the principles of
environmental responsibility, and the announcement of the second
array reinforces that we're always looking to do more."
Once completed, the combined solar installation is expected
to provide pricing stability and reduce energy draw from the
southern Nevada grid during the
hottest time of the day which is also peak electricity demand. The
project is estimated to displace approximately 6,300 metric tons of
carbon dioxide (CO2), which is the equivalent of taking more than
1,300 cars off the road.
"As one of the largest providers of renewable energy
solutions in North America, we're
delighted to be the chosen partner of MGM Resorts to take this
giant leap forward and join their longstanding legacy in
environmental stewardship," said Tom
Doyle, President and CEO of NRG Renew. "NRG envisions a
thriving, sustainable future powered by renewable energy. We look
forward to continuing our partnership with MGM in bringing
competitively priced, clean energy to Mandalay Bay through the
second solar array of this project; further supporting their
commitment to reducing energy costs."
"Together, MGM Resorts and NRG are an excellent example of
private sector companies working together to develop innovative
technologies that protect our planet's most precious resources,"
said Nevada Senator and Senate
Majority Leader Harry Reid. "I
applaud MGM and NRG for leading the way for other businesses to
embrace environmental best practices, and demonstrating that it's
good for business."
"The rooftop solar installation at Mandalay Bay significantly
advances our resort's commitment to being a leading sustainable
destination for conferences and conventions," said Chuck Bowling, President and COO of Mandalay
Bay. "Partnering with a progressive company like NRG to achieve
this milestone reinforces our commitment to promoting renewable
energy and protecting the planet's limited resources as supported
by our Green Advantage sustainability initiative that has already
decreased our energy load by over 14 percent since 2007."
NRG financed, constructed, owns and operates the installation
for MGM Resorts at Mandalay Bay Resort and Casino. Through a Power
Purchase Agreement (PPA), Mandalay Bay Resort will purchase all the
electricity generated by both solar arrays.
About NRG Energy and NRG Renew
NRG Energy (NYSE: NRG) is leading customer-driven change in the
U.S. energy industry by delivering cleaner and smarter energy
choices, while building on the strength of the nation's largest and
most diverse competitive power portfolio. A Fortune 250 company, we
create value through reliable and efficient conventional generation
while driving innovation in solar and renewable power, electric
vehicle ecosystems, carbon capture technology and customer-centric
energy solutions. Our retail electricity providers serve almost 3
million residential and commercial customers throughout the
country. More information is available at
www.nrg.com. Connect with NRG Energy on
Facebook and follow us on Twitter @nrgenergy and
@NRGMedia.
NRG Renew, a subsidiary of NRG Energy, owns or has partial
investment in more than 150 renewable energy projects totaling
approximately 4,500 gross megawatts (MWac) of solar and wind
capacity in operation throughout North
America1.
More information is available at
http://www.nrg.com/renew
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's leading
global hospitality companies, operating destination resort brands
including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The
Company also owns 51% of MGM China Holdings Limited, which owns the
MGM Macau resort and casino and is in the process of developing a
gaming resort in Cotai, and 50% of CityCenter in Las Vegas, which features ARIA resort and
casino. For more information about MGM Resorts International, visit
the Company's website at www.mgmresorts.com.
NRG Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements are subject to certain risks, uncertainties and
assumptions and include NRG's expectations regarding the Company's
MGM solar project and forward-looking statements typically can be
identified by the use of words such as "will," "expect," "believe,"
and similar terms. Although NRG believes that its expectations are
reasonable, it can give no assurance that these expectations will
prove to have been correct, and actual results may vary materially.
Factors that could cause actual results to differ materially from
those contemplated above include, among others, general economic
conditions, hazards customary in the power industry, competition in
wholesale power markets, the volatility of energy and fuel prices,
failure of customers to perform under contracts, changes in the
wholesale power markets, changes in government regulation of
markets and of environmental emissions, and our ability to achieve
the expected benefits and timing of our solar projects. NRG
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. The foregoing review of factors that could cause
NRG's actual results to differ materially from those contemplated
in the forward-looking statements included in this news release
should be considered in connection with information regarding risks
and uncertainties that may affect NRG's future results included in
NRG's filings with the Securities and Exchange Commission at
www.sec.gov.
1 http://www.nrg.com/about/who-we-are/our-assets/
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/mgm-resorts-international-and-nrg-energy-celebrate-the-installation-of-the-worlds-largest-convention-center-solar-array-939668416.html
SOURCE MGM Resorts International