MGM Resorts Signs Agreement to Increase Renewable Energy Use
MGM Resorts International (NYSE: MGM) has signed a 25-year power purchase agreement with Escape Solar to significantly increase its renewable energy use. This deal will more than double MGM's access to clean solar electricity, helping the company move closer to its goal of using 100% renewable electricity in North America by 2030.
The Escape Solar + Storage project, to be built in Lincoln County, Nevada, will combine a 115 MW solar facility with a 100 MW/400 MWh battery storage system. Set to begin operations in early 2026, it will produce renewable electricity equivalent to the annual power usage of over 28,000 average U.S. homes. This expansion will enable MGM to cover 100% of the total daytime needs for 11 of its Las Vegas Strip properties, up from the current 90%.
MGM Resorts International (NYSE: MGM) ha firmato un contratto di acquisto di energia della durata di 25 anni con Escape Solar per aumentare significativamente il suo utilizzo di energia rinnovabile. Questo accordo dovrebbe più che raddoppiare l'accesso di MGM all'elettricità solare pulita, aiutando l'azienda a avvicinarsi al suo obiettivo di utilizzare il 100% di elettricità rinnovabile in Nord America entro il 2030.
Il progetto Escape Solar + Storage, che sarà realizzato nella contea di Lincoln, Nevada, combinerà un impianto solare da 115 MW con un sistema di accumulo a batteria da 100 MW/400 MWh. Le operazioni inizieranno all'inizio del 2026 e produrrà elettricità rinnovabile equivalente al consumo annuale di oltre 28.000 abitazioni medie negli Stati Uniti. Questa espansione permetterà a MGM di coprire il 100% dei bisogni totali diurne per 11 delle sue proprietà sulla Strip di Las Vegas, rispetto all'attuale 90%.
MGM Resorts International (NYSE: MGM) ha firmado un contrato de compra de energía por 25 años con Escape Solar para aumentar significativamente su uso de energía renovable. Este acuerdo más que duplicará el acceso de MGM a electricidad solar limpia, ayudando a la compañía a acercarse a su objetivo de utilizar el 100% de electricidad renovable en América del Norte para 2030.
El proyecto Escape Solar + Storage, que se construirá en el condado de Lincoln, Nevada, combinará una instalación solar de 115 MW con un sistema de almacenamiento de batería de 100 MW/400 MWh. Se espera que comience a operar a principios de 2026 y producirá electricidad renovable equivalente al consumo anual de más de 28,000 hogares estadounidenses promedio. Esta expansión permitirá a MGM cubrir el 100% de las necesidades diarias totales para 11 de sus propiedades en la Franja de Las Vegas, aumentando del actual 90%.
MGM 리조트 인터내셔널(NYSE: MGM)은 Escape Solar와 25년 동안의 전력 구매 계약을 체결하여 재생 에너지 사용을 크게 늘리기로 했습니다. 이번 협약은 MGM의 청정 태양광 전력 접근성을 두 배 이상 높이게 될 것입니다, 이로 인해 회사는 2030년까지 북미에서 100% 재생 에너지를 사용하는 목표에 더 가까워질 것입니다.
리노카운티 네바다주에 건설될 Escape Solar + Storage 프로젝트는 115 MW의 태양광 시설과 100 MW/400 MWh의 배터리 저장 시스템을 결합합니다. 2026년 초부터 운영될 예정이며, 28,000개의 미국 평균 가정의 연간 전력 사용량에 상응하는 재생 전기를 생산할 것입니다. 이 확장은 MGM이 라스베가스 스트립에 있는 11개 자산의 총 낮 시간 필요량의 100%를 충족할 수 있게 해주며, 현재의 90%에서 증가합니다.
MGM Resorts International (NYSE: MGM) a signé un accord d'achat d'énergie de 25 ans avec Escape Solar pour augmenter considérablement son utilisation d'énergie renouvelable. Cet accord va plus que doubler l'accès de MGM à l'électricité solaire propre, aidant l'entreprise à se rapprocher de son objectif d'utiliser 100% d'électricité renouvelable en Amérique du Nord d'ici 2030.
Le projet Escape Solar + Storage, qui sera construit dans le comté de Lincoln, au Nevada, combinera une installation solaire de 115 MW avec un système de stockage par batterie de 100 MW/400 MWh. Les opérations doivent commencer au début de 2026 et produiront de l'électricité renouvelable équivalente à la consommation annuelle de plus de 28 000 foyers américains moyens. Cette expansion permettra à MGM de couvrir 100% des besoins diurnes totaux pour 11 de ses propriétés sur le Strip de Las Vegas, contre actuellement 90%.
MGM Resorts International (NYSE: MGM) hat einen 25-jährigen Stromabnahmevertrag mit Escape Solar unterzeichnet, um seinen Einsatz erneuerbarer Energien erheblich zu steigern. Dieses Abkommen wird den Zugang von MGM zu sauberer Solarenergie mehr als verdoppeln und hilft dem Unternehmen, seinem Ziel näher zu kommen, bis 2030 100% erneuerbare Elektrizität in Nordamerika zu nutzen.
Das Escape Solar + Storage-Projekt, das im Lincoln County, Nevada, gebaut wird, wird eine Solaranlage mit 115 MW und ein Batteriespeichersystem mit 100 MW/400 MWh kombinieren. Die Inbetriebnahme ist für Anfang 2026 geplant und wird erneuerbare Elektrizität erzeugen, die dem jährlichen Stromverbrauch von über 28.000 durchschnittlichen US-Haushalten entspricht. Diese Erweiterung ermöglicht es MGM, 100% des gesamten Tagesbedarfs für 11 seiner Immobilien am Las Vegas Strip abzudecken, im Vergleich zu den derzeitigen 90%.
- Significant increase in renewable energy capacity, more than doubling solar electricity access
- Progress towards 100% renewable electricity goal in North America by 2030
- Extension of renewable power into late afternoon and early evening hours
- Expected reduction of carbon emissions by nearly 250,000 metric tons annually
- Creation of over 250 well-paying construction jobs in Lincoln County, Nevada
- None.
Insights
This agreement marks a significant milestone in MGM Resorts' sustainability journey. By more than doubling its solar electricity access, MGM is not only advancing its own 2030 renewable energy goal but also setting a new standard for the hospitality industry. The
The integration of battery storage is particularly noteworthy, as it extends renewable power use into evening hours, addressing a common limitation of solar energy. This innovation could inspire similar approaches across the sector, potentially accelerating the industry's transition to cleaner energy sources.
While the environmental benefits are clear, investors should also consider the potential for cost savings and enhanced brand value that come with such sustainability initiatives. However, the long-term nature of the agreement also carries some risk if energy markets shift significantly over the next two decades.
MGM Resorts' renewable energy expansion is a strategic financial move. While the initial investment isn't disclosed, long-term power purchase agreements often provide price stability and potential cost savings compared to traditional energy sources. This
The company's proactive approach to sustainability may also yield indirect financial benefits:
- Enhanced brand value and customer loyalty
- Potential regulatory compliance cost avoidance
- Improved investor relations, particularly with ESG-focused funds
However, investors should consider the opportunity cost of this long-term commitment and its impact on financial flexibility. It's important to monitor how this investment affects MGM's overall capital allocation strategy and its ability to respond to future market changes or expansion opportunities.
This deal showcases the growing viability of utility-scale solar plus storage projects. The 115 MW solar facility combined with a 100 MW/400 MWh battery system is a substantial installation, reflecting the maturing technology and falling costs in the renewable energy sector.
The project's ability to cover 100% of daytime needs for MGM's Las Vegas properties is impressive, demonstrating the potential for large commercial entities to significantly reduce their grid dependence. The battery storage component is particularly noteworthy, as it addresses the intermittency issues often associated with solar power.
For the broader energy sector, this deal signals growing corporate demand for renewable energy, which could accelerate the transition away from fossil fuels. It also highlights the potential for energy companies to partner with large commercial customers on bespoke power solutions, potentially opening new revenue streams and business models in the utility sector.
Hospitality industry leader will more than double solar electricity access
The Escape Solar + Storage project, which will be operated by Estuary Power, is slated for construction in
"This agreement is the next step toward the achievement of our climate goals. We have our eyes on meeting our science-based targets and goal of sourcing
In 2023, the company achieved two notable goals related to carbon emissions: reduce emissions by square foot by
- 323,000-panel Mega Solar Array providing 100 MW to MGM Resorts locations in
Las Vegas - 26,000 solar panels atop the Mandalay Bay Convention Center providing 8.3MW to that property
- 100-kW rooftop solar array to help power T-Mobile Arena
- 3,456 solar panels atop the parking garage at MGM Springfield in
Massachusetts
The Company strives to lead the hospitality industry in its response to a changing climate with transparency, accountability and actions informed by the latest climate science. Click here to learn more about climate action at MGM Resorts.
"Estuary is delighted to contribute to MGM Resorts' industry-leading renewable energy objectives by supplying solar energy and battery capacity from our Escape Solar project," said Jill Daniel, CEO of Estuary Power. "MGM Resorts' purchase of renewable energy from Escape will reduce carbon emissions by nearly 250,000 metric tons annually. In addition, Escape will generate substantial economic benefits for
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of
ABOUT ESTUARY POWER
Estuary Power, based in
MGM RESORTS CONTACT:
Andrea Bruce
Manager, Social Impact & Sustainability Communications
abruce@mgmresorts.com
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SOURCE MGM Resorts International
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