Sierra Geothermal Power Corp. (SGP) is a Vancouver-based renewable energy company focused on the exploration and development of clean, sustainable geothermal power. With a substantial land position in Nevada and California, SGP holds geothermal rights or options to 17 properties totaling more than 365 km2 (90,000 acres). The combined generation potential for these properties is estimated to be greater than 500 MW. Currently, four projects are being developed in Nevada, while the remaining 13 properties form a robust pipeline that will ensure SGP's continued growth. SGP trades on the TSX Venture Exchange under the symbol 'SRA'.
SGP intends to advance the development of its portfolio of projects through a combination of funds supported by corporate equity, project debt and/or joint ventures partners. SGP intends to move its top four projects to bankable feasibility, and then engage an experienced contractor to construct a power plant on a turn-key fixed price contract. SGP’s target goal is to have its first project producing power in 2012 and all four projects operating by 2014.
There are 13 additional projects within SGP’s pipeline which will be advanced in conjunction with the completion of Tier I projects. To ensure the pipeline remains strong into the foreseeable future, SGP continues to evaluate new acquisitions.
The renewable energy sector is experiencing rapid growth. SGP believes it will create significant value for shareholders due to its access to capital, increasing demand for renewable power, control of a large land base with geothermal power generating potential, and the existence of an experienced management team with a solid technical background.