Sierra Geothermal Power Corp.

Sierra Geothermal Power Corp.

March 30, 2007 15:10 ET

Sierra Geothermal Power Corp. Filing of Business Acquisition Report

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2007) - Sierra Geothermal Power Corp. ("Sierra") (TSX VENTURE:SRA) has today filed on Sedar its Business Acquisition Report ("BAR") for the Cayley Geothermal Corp. ("Cayley") acquisition which was closed on November 21, 2006. The BAR contains pro forma financial statements for Sierra as at the year ended October 31, 2006 as well as financial statements for Cayley for the period ended October 31, 2006 and December 31, 2005.

On behalf of the Board of Directors,

Gary R. Thompson

Sierra Geothermal Power Corp.

The information provided in this news release contains forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995, including statements regarding potential energy resources and project development possibilities. These statements are based on Sierra Geothermal's current expectations and beliefs and are subject to a number of risks and uncertainties that can cause actual results to differ materially from those described in forward-looking statements, including the risks that the resource potential of any one of our projects may be uneconomic due to the lack of a high temperature water supply, or financing will not be available for construction of the power plants, and the revenues generated will not prove sufficient to fund operations and/or service debt, among others. Readers are cautioned to review the risk factors identified by the company in its filings with Canadian securities agencies. Forward-looking statements are based on management's expectations, beliefs and opinions on the date the statements are made. Sierra Geothermal Power Corp assumes no obligation to update forward-looking statements if management's expectations, beliefs, or opinions, or other factors, should change.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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