Apple To Sell Solar Generating Facility To Utility

Sierra Pacific Power Company d/b/a NV Energy (Sierra Pacific) and Apple Inc. have entered into an agreement for Sierra Pacific to purchase from Apple the Fort Churchill Solar Array, an approximately 20 MW solar photovoltaic generating facility in Lyon County, Nevada

Sierra Pacific and Apple are parties to a Ground Lease Agreement and Solar Array Lease Agreement, both dated June 24, 2013. Under the Solar Array Lease Agreement, Sierra Pacific has leased the Fort Churchill Solar Array facility from Apple since it commenced commercial operation in 2015 and is responsible for the facility’s operation and maintenance. Section 4 of the Solar Array Lease Agreement provides Sierra Pacific a one-time option to acquire the generating facility from Apple.