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Las Vegas' Sphere teams up with NV Energy25 August 2023(PRESS RELEASE) -- Sphere Entertainment Co. announced yesterday that it has submitted a 25-year agreement with NV Energy, the primary electric utility in Nevada. If approved by the Public Utilities Commission of Nevada, the agreement will provide the highest amount of dedicated solar power available to Sphere, making it a model for renewable energy use by entertainment venues around the country. As part of the agreement, Sphere is maximizing the amount of available green power serving the venue by using a dedicated renewable and battery storage resource being developed by NV Energy. For any portion of electricity that is not derived from renewable sources, Sphere will voluntarily acquire certified renewable energy credits to fully mitigate the impact of emissions from the creation of electricity for the venue. “Just as Sphere is setting a new standard for immersive live entertainment, the venue is also setting an industry standard when it comes to renewable energy,” said Rich Claffey, Executive Vice President and Chief Operations Officer of Sphere. “From the outset, we designed Sphere to minimize environmental impact and to help create a sustainable operation well into the future. We’re proud to enter into this agreement with NV Energy and partner with them to achieve both of those important goals.” Sphere, which sits behind The Venetian Las Vegas, was designed to achieve high standards of sustainability and to minimize energy consumption. The venue’s exterior and interior LED screens utilize the most energy-efficient lighting available today and the venue’s advanced distributed heating and cooling system avoids wasteful reheating. Additionally, Sphere’s data centers have been designed to conform to state-of-the-art energy-efficient hot-aisle containment strategies and in-row cooling. “NV Energy is proud to partner with Sphere on our shared vision and commitment to growing our renewable resources,” said Tony Sanchez, NV Energy’s Executive Vice President of Business Development and External Affairs. “NV Energy has consistently exceeded the state’s renewable portfolio standard and is well on its way to meeting Nevada’s renewable portfolio goal of 50 percent by 2030. We enjoy working with customers who share that same vision and view this agreement as a win for both the company and the state as a whole. Overall, this is a balanced outcome for everyone.” Sphere Entertainment estimates that, based on its forecasted usage, approximately 70 percent of its power will be derived from dedicated solar and battery resources. The new NV Energy solar and battery facility, if approved by the Public Utilities Commission of Nevada, will serve Sphere as well as other NV Energy customers. In advance of the solar and battery storage facility, Sphere will voluntarily acquire renewable energy credits to mitigate the impact of all non-renewable sources of power. |