Investors News Release
|View printer-friendly version|
MGM Resorts International and NRG Energy Complete the Installation of One of the Nation’s Largest Rooftop Solar Arrays
28-acre expanded array atop Mandalay Bay Resort & Casino will offset 25 percent of the resort’s peak energy demand
LAS VEGAS, NV – July 6, 2016 – NRG Energy, Inc. (NYSE: NRG) and MGM Resorts International (NYSE: MGM) today announced the completed expansion of one of the nation’s largest rooftop solar arrays. On the roof of the Mandalay Bay Convention Center, the expanded solar array has more than 26,000 photovoltaic panels and produces a combined 8.3 MW dc (6.5 MW ac) of electricity. At full production, the system supplies 25% of the power demand of the entire Mandalay Bay Resort & Casino campus.
It is projected that the expanded solar installation will displace approximately 8,400 metric tons of carbon dioxide (CO2) annually, the equivalent of taking more than 1,700 automobiles off the road. The electricity produced is also equivalent to the average annual usage of 1,340 U.S. homes. Since completion of the first phase in 2014, the project has helped provide pricing stability for MGM Resorts, while reducing the amount of energy drawn from the southern Nevada grid during times of peak electricity demand.
“MGM Resorts International has a long history of integrating environmentally responsible practices throughout our operations to help preserve the planet’s limited resources,” said Cindy Ortega, Senior Vice President and Chief Sustainability Officer of MGM Resorts International. “Our continued partnership with NRG is a source of pride and inspires our desire to continually implement innovative solutions that promote renewable energy.”
Chuck Bowling, President and COO of Mandalay Bay Resort & Casino added: “The expansion of our rooftop solar installation at Mandalay Bay significantly advances our resort’s commitment to being a leading sustainable destination for conferences and conventions. Utilizing energy produced from a renewable resource is a cornerstone of our comprehensive strategy of sustainable operations.”
“Companies like MGM Resorts are driving an evolution in America’s energy mix as they seek cleaner sources of power that provide more certainty over energy costs,” said Craig Cornelius, Senior Vice President of NRG Energy and head of NRG’s Renewables group. “The solar array atop Mandalay Bay is stunning in its scope and functionality, and we’re thrilled to have MGM as a partner.”
The expanded project uses technology from Ten K Solar. Ten K’s REFLECT™ system consists of 4,644 Modules, 180 inverters and a fully integrated Ten K racking system with no roof penetrations. The racking system uses 3M Cool Mirror Film™ to reflect only the light wavelengths usable by the photovoltaic cells. Ten K’s parallel cell and module architecture allows for modules to capture non-uniform irradiance coming from reflected light. The architecture further eliminates any single points of failure, increasing total system availability and reducing operation and maintenance costs.
NRG owns and operates the installation for MGM Resorts at Mandalay Bay Resort and Casino. Through a 25-year Power Purchase Agreement (PPA), Mandalay Bay Resort will purchase all the electricity generated by both solar arrays.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company is in the process of developing MGM National Harbor in Maryland and MGM Springfield in Massachusetts. MGM Resorts controls, and holds a 73 percent economic interest in the operating partnership of MGM Growth Properties LLC (NYSE: MGP), a premier triple-net lease real estate investment trust engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. The Company also owns 51 percent of MGM China Holdings Limited (HK: 2282), which owns the MGM Macau resort and casino and is developing a gaming resort in Cotai, and 50 percent of CityCenter in Las Vegas, which features ARIA Resort & Casino. MGM Resorts is named among FORTUNE® Magazine's 2016 list of World's Most Admired Companies®. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.
NRG is the leading integrated power company in the U.S., built on the strength of the nation’s largest and most diverse competitive electric generation portfolio and leading retail electricity platform. A Fortune 200 company, NRG creates value through best in class operations, reliable and efficient electric generation, and a retail platform serving residential and commercial businesses. Working with electricity customers, large and small, we continually innovate, embrace and implement sustainable solutions for producing and managing energy. We aim to be pioneers in developing smarter energy choices and delivering exceptional service as our retail electricity providers serve almost 3 million residential and commercial customers throughout the country.
MGM Resorts International
MGM Resorts International