Sierra Geothermal Power Announces Director Appointment
December 15 2009 - 2:38PM
Marketwired
Sierra Geothermal Power Corp. (TSX VENTURE: SRA) announced today
the appointment of Mr. Bryan Bertacchi, MBA, P.Eng, to its Board of
Directors. Mr. Bertacchi replaces director Mr. Joel Ronne who
voluntarily resigned from the Board on December 13, 2009. Mr. Ronne
will continue to act as Sierra's Chief Operating Officer.
Mr. Bertacchi has more than 25 years of experience in the power
sector, including 10 years in the geothermal industry with Calpine
Power Company. Mr. Bertacchi was Area Executive and Vice President
for the Calpine Western Region and was Chief Operating Officer of
Calpine Power Income Fund, at the time a Calgary-based, Toronto
Stock Exchange-listed trust. Mr. Bertacchi has extensive experience
in geothermal project development, geothermal plant operations and
maintenance, working with elected officials, Original Equipment
Manufacturers, engineering firms, Equipment Procurement Construct
contractors, lenders and rating agencies and extensive experience
within the California Market.
"Mr. Bertacchi is an excellent addition to our Board of
Directors. His geothermal and technical background nicely
complements the broad capabilities of our existing directors. Mr.
Bertacchi experience will be extremely valuable as we move closer
to becoming an independent power producer by 2012," said Gary R.
Thompson, President and CEO of Sierra Geothermal Power. "On behalf
of the board, I want to personally thank Mr. Ronne for his years of
service as a director of SGP and look forward to his continued
contributions in his role as COO."
Since 2008, Mr. Bertacchi has been the CEO of Danville,
California-based Radback Energy Inc., a project development company
specializing in conventional and renewable resources. Radback
Energy was contracted by Pacific Gas and Electric Company of San
Francisco to permit its new Humboldt Bay 163 MW power plant which
is now under construction in California. Radback also has a
contract with Pacific Gas and Electric Company to develop and
construct a new 600 MW power plant in the San Francisco Bay
Area.
Prior to his role as CEO of Radback Energy Inc., from 2005 to
2007 Mr. Bertacchi was employed directly by Pacific Gas and
Electric Company and by Northern California Power Agency. His
service as a Vice-President of California-based Calpine Power
Company was from 1999 to 2005. In addition, from 2001 to 2005 he
was concurrently the COO of Calgary-based Calpine Power Income
Fund.
Mr. Bertacchi is a registered Professional Engineer (Mechanical)
in the state of California. He completed his undergraduate studies
in Electrical Engineering from California Polytechinic State
University and graduated with a Master of Business Administration
from Saint Mary's University in 2005.
Mr. Bertacchi's appointment is subject to approval by the TSX
Venture Exchange.
About Sierra Geothermal Power Corp.
Sierra Geothermal Power Corp. is a renewable energy company
focused on the exploration and development of clean, sustainable
geothermal power. The Company is based in Vancouver, British
Columbia and listed on the TSX Venture Exchange under the symbol
SRA. Its portfolio of geothermal projects located in Nevada and
California exceeds 365 square kilometres or 90,000 acres and has a
combined total estimated capacity of greater than 500 MW. SGP
intends to finance development by utilizing a combination of
corporate equity, joint venture partnerships and project debt, with
the support of US government grants and loan guarantees. To find
out more about Sierra Geothermal Power Corp. (TSX VENTURE: SRA)
visit our website at www.sierrageopower.com.
On behalf of the Board of Directors
Gary Thompson, P.Geo, President, Chief Executive Officer and
Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements.
Forward-looking statements are projections of events, revenues,
income, future economic performance or management's plans and
objectives for future operations. In some cases you can identify
forward-looking statements by the use of terminology such as "may",
"should", "anticipates", "believes", "expects", "intends",
"forecasts", "plans", "future", "strategy", or words of similar
meaning. Forward looking statements in this news release include
statements about the company's belief that Mr. Bertacchi's
extensive experience will aid us in achieving our goal of becoming
a power producer by 2012, and the company's intent to finance the
development of its portfolio of projects through a combination of
equity and/or joint ventures. These statements are only predictions
and involve known and unknown risks, uncertainties and other
factors, including the risks inherent in our industry, the poor
capital markets and other risks identified by us in our periodic
filings on SEDAR (which can be viewed at www.sedar.com). Any of
these risks could cause our or our industry's actual results,
levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements.
While these forward-looking statements and any assumptions upon
which they are based are made in good faith and reflect our current
judgment regarding the direction of its business, actual results
will almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance
suggested in this press release. Except as required by applicable
law, including the securities laws of Canada, we do not intend to
update any of the forward-looking statements to conform these
statements to actual results.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Sierra Geothermal Power Corp. Gary Thompson President
& CEO (604) 683-0332 or 1-800-563-5631 info@sierrageopower.com
Sierra Geothermal Power Corp. Anthony Srdanovic Investor Relations
(604) 642-6179 asrdanovic@sierrageopower.com
www.sierrageopower.com
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