Sierra Geothermal Power Corp.

Sierra Geothermal Power Corp.

August 17, 2007 09:00 ET

Sierra Geothermal Power Corp. Secures New Geothermal Leases in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 17, 2007) -


Sierra Geothermal Power Corp. (SGP); (TSX VENTURE:SRA), is pleased to announce that it was the successful bidder for 18,103 acres of geothermal lease rights in the areas of Dixie Valley and Brady/Desert Peak, Nevada. These leases were acquired through the Bureau of Land Management's competitive bidding process.

The acquired leases in Dixie Valley are located 6.4 km from the 66 Megawatt Geothermal Power Plant operated by Caithness Energy, LLC, which has been producing power at the plant since 1988. The Dixie Valley land parcels consist of 17,446 acres located within the structural trend of the Dixie Valley Geothermal Field. The Brady/Desert Peak land parcel is comprised of 657 acres of geothermal lease rights. The Brady and Desert Peak geothermal power plants, both operated by Ormat, produce 26 MW and 12.5 MW respectively.

SGP's President and CEO, Gary Thompson, states, "We are encouraged by the potential for power generation in this area and its proximity to transmission infrastructure."

Twenty-five of the United States have adopted Renewable Portfolio Standards (RPS) to stimulate the development of renewable energy. The State of Nevada has adopted an RPS that requires utilities to have 20% of their electricity supplied from renewable sources by 2015. The California RPS requires 20% of electricity sold to come from renewable energy by 2010.

About Sierra Geothermal Power Corp.

SGP is a Vancouver-based renewable energy company focused on the exploration and development of clean, sustainable geothermal power. Geothermal power plants produce long-term revenues and provide continuous base-load power, often at or above 95% capacity. SGP's total geothermal land assets are now 88,000 acres while the total number of projects increases from 15 to 17. The company intends to advance the development of its portfolio of projects through a combination of equity and/or joint ventures, while continuing to evaluate additional acquisitions.

On behalf of the Board of Directors,

Gary R. Thompson

Not for distribution to United States newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of United States securities law. This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

To find out more about Sierra Geothermal Power Corp. (TSX VENTURE:SRA), visit our website at

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

Contact Information