Press Release29 June 2021MGM Resorts International (NYSE : MGM), a leader in combating climate change, launched today its 100-megawatt, direct-sourced solar array. It is the largest hospitality industry project of this type. The clean energy arrays produce up to 90% of MGM Resorts Las Vegas' daytime electricity needs. They cover 65 million square feet and more than 36,000 rooms along the Las Vegas Strip.AdvertisementsMGM Resorts' considerable scale and resources allow us to make a significant impact in fighting climate change. We also recognize our responsibility for creating a more sustainable future. Bill Hornbuckle, CEO, President of MGM Resorts, stated that we are well-positioned, he said. Today was a significant step forward for our environmental sustainability initiatives at Las Vegas, as well as our long-term vision of protecting the planet and making a lasting positive impact on our communities around the world.This launch is a significant milestone in MGM Resorts' long-term climate strategy. It significantly accelerates progress towards its 2025 goal of reducing emissions by 45% per square feet. MGM Resorts is also announcing two new goals that it developed following the Science-based Targets Initiative's guidance. These goals have been submitted to the Initiative for consideration.Reducing absolute scope 1 and 2[1] Greenhouse Gases (GHG) emissions by 50% by 2030 (2019 Base Year) Source 100% renewable electricity for the US and 80% worldwide by 2030Steve Sisolak, Nevada Governor, stated that MGM Resorts is Nevada's largest private employer. He also said that MGM Resorts has demonstrated a clear commitment in using their size and scope to address important issues such as climate change, renewable energy, and sustainability. This solar array is one of the most important steps taken by our industry to combat climate change and promote renewable energy. The powering of large swathes of the Strip using clean, renewable energy sends out a strong message about Nevada's leadership in renewable energy and our commitment towards fighting climate change.MGM Resorts Mega Solar Array is located in the desert north Las Vegas. It features 323,000 solar panels spread over 640 acres. The array's annual renewable electricity production will equal approximately 27,000 homes in the United States. MGM Resorts is solely the user of the generated renewable electricity.MGM Resorts has made significant efforts to reach its long-term climate goals. The launch and development of the arrays follows a series of important initiatives. MGM Resorts' commitments include:From 2007 to 2019, the company invested over $60 million in energy efficiency, including major upgrades to energy efficient lighting, heating, and air conditioning systems.Since 2009, we have been pursuing green building certification for all new properties. The CityCenter, where ARIA and Vdara resorts can be found, has received six LEED[1] gold certifications from U.S. Green Building Council since 2009. It remains the largest privately funded LEED-certified development. MGM Springfield was the first private sector hospitality development to be awarded LEED Neighborhood Development certification.Mandalay Bay's 8.3-megawatt rooftop solar array was developed in 2015. It is America's largest contiguous rooftop array.MGM Resorts made the transition to distribution-only service in 2016 in order to control its energy future, and to accelerate its use of renewable power.Invenergy, a major privately-owned developer and operator of renewable energy solutions, developed the Mega Solar Array project. It was structured by a 20 year Power Purchase Agreement (PPA). Invenergy sold a 75% stake in the MGM Resorts Mega Solar Array, a subsidiary American Electric Power (Nasdaq : AEP), which is one of the largest electric companies in the country, in early 2021. Invenergy Services, a subsidiary of Invenergy will provide Operations and Maintenance and Balance of Plant service under a long-term contract.MGM Resorts 100-megawatt array, and MGM Resorts new ambitious goals, further confirms the company's commitment to its companywide social and sustainability platform, Focus on What Matters. This platform outlines the company's strategy to make a positive difference in society. The platform is focused on the What Matters pillars, which include Fostering Diversity and Inclusion and Investing In Our Communities and Protecting the Planet.Scope 1 emissions refer to direct emissions from sources owned or controlled, such as natural gas used in on-site boilers or diesel for cars. Scope 2 emissions refer to indirect emissions from the production of purchased energy.[1] Leadership in Energy & Environmental Design
