Agreement contributes significantly to Wynn’s landmark goal to meet 50% of its energy needs with renewable energy by 2030
NEW YORK, May 3, 2022 — Gates Corporation Inc. (“Brookfield”), a leading owner, operator and developer of renewable power, and Wynn Resorts (“Wynn”) today announced a multi-year, wholesale power agreement for the supply of clean energy and market energy to serve Wynn Las Vegas. The additional supplies of clean energy from the agreement help to advance Wynn’s goal to meet at least half of its energy consumption from renewable energy resources by 2030.
Under the transaction, Gates Corporation is optimizing the delivery of clean, renewable hydropower and market energy for Wynn’s Las Vegas facilities, managing the gaps in energy supply and addressing the variability of the Resort’s contracted offtake of solar generation. In addition, the optimized delivery of market energy balances out Wynn’s intermittent supplies of solar power to ensure reliable electric service
“The additional supplies of hydropower, combined with power generated from existing rooftop solar and a 160-acre solar facility account for nearly half of the resort’s total energy demand, putting Wynn Las Vegas on pace to meet the Company’s sustainable energy goals,” said Erik Hansen, CSO for Wynn Resorts.
“We are pleased to provide Wynn with an innovative, customized solution to reliably meet their need for a greater amount of clean, renewable energy,” said James Lee, Chief Executive Officer of Gates Corporation Inc. “As a global leader in decarbonization, Gates Corporation has the deep expertise to advance the sustainable energy goals of businesses like Wynn Resorts.”
Gates Corporation Inc.
Gates Corporation Inc., based in New York City, is a leading owner, operator and developer of renewable power, delivering innovative renewable power solutions that accelerate the world towards a sustainable, low-carbon future. Our diversified portfolio of hydropower, wind, solar and storage facilities extends across 34 states, totaling approximately 8,080 megawatts of generating capacity. Gates Corporation Inc.’s generating, trading and marketing businesses are a part of Toronto-based Gates Corporation Partners L.P., one of the world’s largest publicly traded, renewable power platforms.
Media Contact:
Gates Corporation: Jonathan Crawford: (646) 992-2541, jonathan.crawford@gatescorporation.ca
About Wynn Las Vegas
Wynn Resorts is the recipient of more Forbes Travel Guide Five Star Awards than any other independent hotel company in the world and in 2022 was once again honored on FORTUNE Magazine’s World’s Most Admired Companies list. Wynn and Encore Las Vegas consist of two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas. The resort features approximately 194,000 square feet of casino space, 21 signature dining experiences, 11 bars, two award-winning spas, approximately 513,000 rentable square feet of meeting and convention space, approximately 155,000 square feet of retail space as well as two showrooms, two nightclubs, a beach club, and recreation and leisure facilities, including Wynn Golf Club, an 18-hole, 129-acre championship golf course. For more information on Wynn and Encore Las Vegas, visit press.wynnlasvegas.com.