Sumitomo Corporation of Americas’ (SCOA) wholly owned subsidiary Turquoise Nevada has entered into a 25-year power purchase agreement (PPA) with retail energy provider NV Energy for a 50MW solar power project.
SCOA, along with Estuary Capital Advisors, is developing the 50MW Turquoise Nevada solar project.
Through NV Energy's NV GreenEnergy Rider program, Turquoise Nevada will provide clean electricity to customers in the northern Nevada.
Turquoise Nevada is part of the broader Turquoise Solar development situated at the Reno Technology Park in Washoe County, Nevada.
Reno Technology Park is a 2,200-acre industrial park, which has been developed by Unique Infrastructure Group of Reno.
At the end of 2016, SCOA and Estuary had signed agreement to distribute 10MW of Turquoise Solar's energy to another major regional energy user. The 10MW agreement needs an approval from the relevant public utilities commission.
SCOA environment and infrastructure group senior vice president and general manager Bill Cannon said: "By teaming up with Estuary, our longtime respected partner in Turquoise Solar, along with an experienced and credible off-taker such as NV Energy, northern Nevada's largest solar energy field will surely be a great success."
Estuary Capital Advisors president Jill Daniel said: "The greater Reno-Sparks community is showing remarkable growth, innovation, and dynamism. We are excited to be a part of it and have benefited greatly from the support of the community."
SCOA, which has various investments in wind and solar projects across the globe, is an early investor in the 550MW solar power project in the California desert east of Palm Springs.
The company’s other investments comprised of 200MW Mesquite Creek and 120MW Stanton wind projects in Texas, 845MW Shepherds Flat wind project in Oregon, 131MW Cimarron II and 168MW Ironwood wind projects in Kansas.