Sierra Pacific Resources became NV Energy, Inc. in 2008, affirming a commitment to one consistent vision for Nevada's energy future, being the premier provider of energy for Nevada.

The company's three-part energy supply strategy includes investments in energy efficiency, renewable energy and the expansion of traditional generating and transmission capacity. By increasing conservation efforts and investing in renewable energy projects, we are lowering Nevada's carbon footprint and improving the environment. With investments to expand generation and transmission facilities, we are reducing reliance on volatile energy markets.

NVE's investments in renewable facilities includes a joint development agreement in the 200 MW China Mountain wind project, a joint ownership agreement to develop a 30 MW geothermal project in Western Nevada, and contracts for 600 MW of renewables including projects that are under development.

In 2008, more than 1,700 MWs of company-owned generating capacity was added for a total of 5,811 MWs and NVE began constructing the Harry Allen 500 MW gas plant just north of Las Vegas. NVE's 2009 projected peak will be 8,469 MWs. The Ely Energy Center, a coal-fired plant, was postponed until technologies to capture and store greenhouse gases are commercially available. We plan to proceed with the construction of a 235 mile transmission line, linking NV Energy's northern and southern territories for a 2012 estimated in service date.