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26 October 2004 - Sierra Pacific Resources announced yesterday that its two electricity utilities have purchased renewable energy credits for electricity generated by solar and geothermal resources.

The contracts, finalised earlier in October will help Nevada Power Company and Sierra Pacific Power Company, meet their renewable energy portfolio standards which require that a certain percentage of electricity generated to serve customers must come from renewable energy resources in Nevada.

The legislation contains an escalation provision that requires providers of electric service to increase the use of renewable energy by two per cent every third year until the provider's portfolio accounts for 15 per cent of its total energy sales by 2013. Solar generated power must account for five per cent of the total renewable energy portfolio.

With these new contracts, approximately 7.5 per cent of the two utilities' electricity generated in Nevada in 2005 will come from renewable sources.

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