LAS VEGAS, April 19, 2018 /PRNewswire/ -- MGM Resorts
International (NYSE: MGM) and Chicago-based Invenergy, North America's largest independent renewable
energy company, have partnered on a new solar photovoltaic array,
which will generate 100 megawatts of clean, renewable energy. The
MGM-Invenergy Solar Project will be located 25 miles north of
Las Vegas and MGM Resorts will
purchase all the energy generated by the project to help power its
13 properties on the Las Vegas Strip. The project will be
operational by the end of 2020. This project is in line with MGM
Resorts' longstanding leadership and commitment to reduce its
consumption of the Earth's limited resources.
"Protecting the planet is a business imperative for MGM Resorts
and it is our responsibility to find innovative ways where we can
use clean energy to power our resorts," said Jim Murren, Chairman and CEO of MGM Resorts
International. "Incorporating renewable energy into MGM's portfolio
will fundamentally reduce MGM's environmental footprint."
Over the past year, MGM Resorts considered a broad array of
potential renewable energy projects in Nevada. Invenergy was selected for its strong
track record of success in the renewable energy industry, as well
as its ability to offer MGM a customized solution. The company also
provided a site in an ideal location, which will allow the project
to be developed in the most environmentally conscious manner.
"Invenergy is a leader in solving energy challenges for
businesses like MGM that are backing up their commitment to
sustainability by powering their operations with renewable energy,"
said Invenergy's Founder and CEO Michael
Polsky. "Solar energy offers cost-competitive power with
zero carbon emissions, providing tremendous value and long-term
certainty for customers looking to minimize their impact on the
environment."
The MGM-Invenergy Solar Project will be made up of approximately
336,000 panels on 640 acres of land within the U.S. Bureau of Land
Management's Dry Lake Solar Energy Zone. The project will produce
enough electricity to power the equivalent of approximately 27,000
homes. Aside from the renewable energy being used directly by MGM
Resorts' Nevada properties, the
project will also yield other significant benefits for the state of
Nevada. Construction of the
project will employ approximately 350 workers. Once operational,
the project will generate approximately $20
million of sales and property tax revenues as well as
indirect economic benefits to local businesses like hotels and
restaurants, while also reducing carbon emissions.
MGM Resorts' properties line the Las Vegas Strip from Mandalay
Bay Resort & Casino to Circus Circus Las Vegas, and include
some of the most recognizable resort brands in the industry
including the Bellagio, Mirage, Aria and MGM Grand. With its roots
firmly planted in the Las Vegas
area, this array furthers MGM Resorts' commitment to Las Vegas and the community. By building the
array close to the Las Vegas Strip, it will enable MGM Resorts to
directly use the electricity generated from the array.
In 2016, MGM Resorts completed the expansion of the nation's
largest contiguous rooftop solar array. The 26,000 panel,
8.3-megawatt solar array is located on the roof of the Mandalay Bay
Convention Center.
Since 2015, Invenergy has partnered with ten corporate customers
to develop over 1,100 megawatts of new renewable energy capacity.
As a privately held, full-service energy solutions provider,
Invenergy has the unique ability to be creative when it comes to
solving complex energy challenges for corporate customers.
About MGM Resorts International
MGM Resorts
International (NYSE: MGM) is an S&P 500® global entertainment
company with national and international locations featuring
best-in-class hotels and casinos, state-of-the-art meetings and
conference spaces, incredible live and theatrical entertainment
experiences, and an extensive array of restaurant, nightlife and
retail offerings. MGM Resorts creates immersive, iconic experiences
through its suite of Las
Vegas-inspired brands. The MGM Resorts portfolio encompasses
28 unique hotel offerings including some of the most recognizable
resort brands in the industry. Expanding throughout the U.S. and
around the world, the company in 2018 opened MGM COTAI in
Macau and the first
Bellagio-branded hotel in Shanghai. It also is developing MGM
Springfield in Massachusetts. The
78,000 global employees of MGM Resorts are proud of their company
for being recognized as one of FORTUNE® Magazine's World's Most
Admired Companies®. For more information visit us at
www.mgmresorts.com.
About Invenergy
Invenergy drives innovation in
energy. Invenergy and its affiliated companies develop, own, and
operate large-scale renewable and other clean 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, Japan, Poland
and Scotland.
Invenergy and its affiliated companies have developed more than
19,400 megawatts of projects that are in operation, construction or
contracted, including wind, solar, natural gas-fueled power
generation and energy storage projects. For more information,
please visit www.invenergyllc.com.
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SOURCE MGM Resorts International