Sierra Pacific Resources signs geothermal contracts

Reno, NV, Aug. 4, 2006 — Sierra Pacific Resources announced that it has signed power purchase agreements (PPAs) with Ormat Technologies Inc. The agreements will add up to 60 megawatts of new renewable generating capacity to its energy portfolio. The power will be used by its utility subsidiaries, Nevada Power Co. and Sierra Pacific Power Co. to serve their customers in Nevada.

The contracts specify purchases from new geothermal power plants to be constructed in northern Nevada. Each of the contracts is for 20 years. The contracts will require review and approval by the Public Utilities Commission of Nevada.

The PPAs are for new plants planned for construction by Ormat at Carson Lake, in Churchill County and Buffalo Valley, in Lander County. When completed, the two plants are expected to generate up to 60 megawatts of power.

The agreements are the eleventh and twelfth PPAs between ORMAT and Sierra Pacific Resources, and the fifth and sixth executed since the enactment of Nevada’s renewable portfolio standard legislation in 2001.

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