Allegiant Stadium, the under-construction home of the Las Vegas Raiders NFL American football team, has struck a deal with local firm NV Energy ahead of its opening in the summer.
According to the Las Vegas Review-Journal newspaper, NV Energy has signed a 25-year deal with the stadium that will see it power the state-of-the-art, 65,000-seat stadium. The deal will reportedly be in place in time for the 2020 NFL season.
The Review-Journal noted that the deal will mean that LV Stadium Events cannot pursue alternative energy providers for the Raiders’ facilities.
NV Energy spokeswoman Jennifer Schuricht told the newspaper: “(The) end result that is not only good for the Raiders, it will benefit all NV Energy customers and support the growth of the southern Nevada economy.”
The stadium’s energy rates would reportedly reflect the market price, with the deal to be broken down into two supply periods. According to the Review-Journal, NV Energy would initially provide the power based on market index pricing, before a long-term agreement comes into effect that would charge the Raiders a fixed price per megawatt hour
Last month, MGM Resorts International signed on as the latest founding partner of Allegiant Stadium, joining Desert Ford Dealers and San Manuel Casino. Las Vegas-based travel company Allegiant signed on as the naming-rights sponsor of the stadium in August.