The 20-year power purchase agreement is subject to approval from Nevada’s Public Utilities Commission.
SunPower CEO and president Tom Werner said: "We are pleased to partner again with NV Energy to enable more Nevada homes and businesses to take advantage of the state’s abundant solar resource."
Construction work on the Boulder solar plant is scheduled to commence by the end of this year and be completed in 2016.
SunPower acquired the project from KOMIPO America, a subsidiary of Korea Midland Power, earlier this year.
The project is expected to generate clean electricity required to power over 15,000 homes while reducing carbon dioxide emissions of about 192,000t a year.
SunPower will design and build an Oasis Power plant system to optimize land use and ensure a rapid, cost-effective quicker installation at the site.
The company is considering the sale of the Boulder power plant to 8point3 Energy Partners, the YieldCo joint venture launched by SunPower and First Solar.
