The hospitality industry leader will more than double access to solar power
las vegas, September 12, 2024 /PRNewswire/ — MGM Resorts International (NYSE: MGM) (“MGM Resorts” or the “Company”) is taking a bold leap toward its ambitious sustainability goals by signing a power purchase agreement with Escape Solar LLC that will more than double Access to clean solar electricity – a fantastic step towards a greener future. This deal will help the company get closer to its acquisition target 100% Renewable electricity in North America by 2030. Already a global leader in sustainability with the largest direct-connect solar array in the hospitality industry in the world, MGM Resorts is currently using solar energy for 90% of the total daily requirement for 11 of its iconic properties on the Las Vegas Strip. This ambitious 25-year deal will strengthen the company’s renewable energy capabilities and expand production to capacity. 100% of the total daily needs of that property. In addition, the Escape Solar+’s battery storage allows extending the renewable energy supply into the late afternoon and early evening hours to include uses such as exterior property lighting.
Escape Solar + Storage project, which will be managed by Stewari Power, to build Lincoln County, Nevada. It combines a 115 megawatt (MW) solar installation with a 100 MW/400 MWh battery storage system. The facility will generate an amount of renewable electricity equivalent to the annual electricity consumption of more than 28,000 averages. United States The homes are expected to begin operations in early 2026 and mark a milestone in MGM Resorts’ journey to sustainability leadership.
“This agreement is the next step towards achieving our climate goals. We have our eyes on achieving our science-based and resource-based goals. 100% from our electricity in North America From Renewable Resources to 2030, Bill Hornbuckle, CEO and President of MGM Resorts, said, “As we continue our journey toward greater sustainability, we continue to find new ways to reduce our carbon footprint, conserve resources and We continue to inspire others to join in building a more sustainable world for future generations.”
By 2023, the company has achieved two significant carbon emissions goals: reducing greenhouse gas emissions per square foot by 45% by 2025 and reduce emissions per square foot 50% by 2030. Since 2016, MGM Resorts has significantly reduced its carbon emissions through renewable energy projects, including:
- A 323,000-panel solar mega array that supplies 100 megawatts to MGM Resorts locations in Vegas
- 26,000 solar panels on top of the Mandalay Bay Convention Center, giving the property 8.3 megawatts.
- 100 kW solar array on the roof to help power the T-Mobile Arena
- 3,456 solar panels on top of the MGM Springfield parking garage at Massachusetts
The company strives to lead the hospitality industry in responding to a changing climate with transparency, accountability and actions based on the latest climate science. Click here for more information on climate action at MGM Resorts.
“Estuary is pleased to contribute to MGM Resorts’ industry-leading renewable energy goals by providing solar power 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 approximately 250,000 tons per year. In addition, the Escape offers significant economic benefits for Lincoln County, Nevada As the first urban-scale solar project in the city, it will create more than 250 high-paying construction jobs.
About MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations that own best-in-class hotels and resorts. Casinosstate-of-the-art meeting and conference spaces, incredible live entertainment and theater experiences, and an extensive array of restaurants, nightlife and retail offerings. MGM Resorts creates iconic and immersive experiences through its portfolio VegasThe inspired brands of the MGM Resorts portfolio include 31 unique hotel and gaming destinations worldwide, including some of the most recognized leisure brands in the industry. The company’s 50/50 investment, BetMGM, LLC, offers US sports betting and offers online gaming through market-leading brands, including BetMGM and partypoker, and its subsidiary LeoVegas AB. betting and online gaming through market leading brands in multiple jurisdictions across Europe. The company is currently looking for targeted development Asia Through the opportunity to relax seamlessly in Japan. via “Focusing on What Matters: Embracing Humanity and Protecting the Planet” Philosophy, MGM Resorts is committed to creating a more sustainable future while striving to make a bigger difference in the lives of its employees, guests and the communities in which it operates. The global employees of MGM Resorts are proud to be recognized as one of FORTUNE® Magazine’s World’s Most Admired Companies. For more information, please visit us www.mgmresorts.com. Please also connect with us at @MGMResortsIntl Twitter And also Facebook and Instagram.
About the power of the estuary
Story Power, based in Reno, Nevadais a long-term developer and owner of urban-scale energy production projects. Estwari has a successful track record of providing renewable energy to utility and commercial and industrial customers and has a pipeline of over 4 gigawatts of energy generation throughout the western United States. In 2022, Estuary entered into a long-term partnership with the Ullico Infrastructure Fund. 5.5 billion dollars An open infrastructure investment fund backed by Olico, a 100-year-old insurance company.
Contact MGM RESORTS:
Andrea Bruce
Manager, Social Impact and Sustainability Communications
abruce@mgmresorts.com
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Source: MGM Resorts International