When you think of Las Vegas casinos, you likely don’t consider them environmentally friendly. However, MGM Resorts has been working to change that perception.
The company has been actively working towards converting all of its North American properties. It recently secured an arrangement to significantly increase its renewable energy resources.
MGM Resorts has entered into an agreement with Escape Solar LLC to extend its current renewable energy capabilities. Once the facility is operational, all Las Vegas properties will enjoy 100% daytime coverage from renewable resources.
The company is on pace to convert all North American properties to renewable energy resources by 2030.
Key Highlights
- MGM Resorts Signs Deal With Escape Solar LLC to increase renewable energy output for Las Vegas properties.
- After the new facility launches, MGM will have 100% daytime coverage for Vegas strip properties.
- MGM has a target of 100% North American coverage from renewable resources by 2030.
MGM Resorts Signs Deal With Escape Solar LLC to Increase Vegas Renewable Energy
On September 12, MGM Resorts issued a press release announcing a partnership with Escape Solar LLC, an agreement that it says will “more than double its access to clean solar energy.” Under the deal, the company will help to increase MGM’s renewable energy resources to the point where it can cover the power requirements for all 11 of its Las Vegas Strip properties.
The 25-year deal will see MGM’s renewable energy resources increase to where it can provide 100% of daytime power requirements to its Vegas properties with enough storage capacity left over to provide some limited power to properties in the evening.
This power will be used for things such as exterior lighting. Renewable energy sources already provide 90% of daytime power to Vegas casinos.
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 100% of our electricity in North America from renewable sources by 2030.
– Bill Hornbuckle, President and CEO of MGM Resorts
The new facility will be constructed in Lincoln County, NV. The facility will combine a 115 megawatt (MW) solar farm with a 100 MW/400 MWh battery storage system. Once active, the facility will produce enough energy to power the equivalent of 28,000 homes.
According to Bill Hornbuckle, President and CEO of MGM Resorts. “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 100% of our electricity in North America from renewable sources by 2030.
As we continue the journey toward greater sustainability, we remain dedicated to finding new ways to reduce our carbon footprint, conserve resources, and inspire others to join in building a more sustainable world for generations to come.”
MGM Making Significant Progress Towards Environmental Goals
MGM Resorts strives to be a global leader in climate governance and has worked diligently to achieve its goals. According to its website, it has the following goals:
- Reduce absolute Scope 1 and 2 carbon emissions by 50% by 2030 (2019 baseline, global)
- Source 100% renewable electricity by 2030 (U.S.)
- Source 80% renewable electricity by 2030 (Global)
The following are its secondary climate-related metrics and goals:
- Reduce carbon emissions per square foot by 45% (2007 baseline, global)
- Reduce energy per square foot by 25% (2007 baseline, global)
- Reduce water per square foot by 30% (2007 baseline, global)
- Reduce materials disposed per square foot by 60% (2007 baseline, global)
This new deal for Las Vegas will bring the company closer to its corporate goals, ones that they appear to be well ahead of schedule to crush. According to its website, MGM has already achieved a 43.8% carbon reduction per square foot from 2007 to 2021.
The company has been able to significantly reduce its carbon emissions due to renewable energy products, including:
- 323,000-panel Mega Solar Array providing 100 MW to MGM properties in Las Vegas
- 26,000 solar panels atop the Mandalay Bay Convention Center, providing 8.3MW
- 100-kW rooftop solar array to help power T-Mobile Arena
- 3,456 solar panels atop the parking garage at MGM Springfield in Massachusetts
In addition to providing power benefits to Las Vegas strip properties, the new deal will have an immediate economic impact on Lincoln County. According to the press release, the new facility will create “over 250 well-paying construction jobs” that will help to boost the local economy.
Sources
https://investors.mgmresorts.com/investors/news-releases/press-release-details/2024/MGM-Resorts-Signs-Agreement-to-Increase-Renewable-Energy-Use/default.aspx
https://www.mgmresorts.com/en/company/sis/protecting-the-planet/climate.html
