Las Vegas Should be Receiving Solar Power in 2007

Solargenix should be finishing its Nevada Solar One in mid 2007. It is the largest solar electrical power plant to be built in the United States and the largest built in the world in the last 15 years. It is located in Boulder City's Eldorado Valley. The solar plant will be next to Sempra Energy's 480-megawatt natural-gas-fired El Dorado Energy power plant. The plant will be the third largest in the world. The plant will be capable of producing 64 megawatts of electricity. The rule of thumb is that one megawatt should power 1,000 homes and 64 megawatts should power 64,000 homes. Nevada Power and Sierra Pacific have contracted with Solargenix to purchase 50 megawatts each year.

Nevada Power is buying electricity from Solar One in order to comply with legislation that requires the use of renewable energy sources by Nevada electrical utilities to generate electricity (9% in 2007). The regulations contain an escalation clause to increase the use of renewable energy by two percent every third year, until it accounts for 15 percent of its total energy sales. The requirement for solar-generated power must be 5 percent of the total renewable energy portfolio.

Solargenix is 55% owned by Acciona S.A., a Spanish energy company, and 45% by Duke Energy. Acciona is Spain's second-largest renewable-energy company and has 2,900 megawatts of wind, biomass, hydroelectric and solar power plants in operation.

The state of Nevada and UNLV are working on becoming a center of solar energy. Solargenix is a great step in that direction.

John Laub is president of the CEO-CFO Group

1. Largest solar electric power plan project in the world in the world in 14 years. Company Press Release. Solargenix. September 21, 2005.

2 "Solargenix Energy forms partnership. Sale of stake to Spain's Acciona SA won't affect local office." John Edwards. February 3, 2006.

3. Public Utility Commission of Nevada
http://puc.state.nv.us/

4. "Nevada Utilities Sign Contracts for Solar Power." Company Press Release. Sierra Pacific Resources. December 20, 2002