VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Sierra Geothermal Power Corp. (TSX VENTURE:SRA) ("SGP") announced that it today issued 1,800,000 10-year incentive stock options to its employees, officers and directors as follows:

- An aggregate of 100,000 incentive stock options to its recently appointed directors. These options vest immediately;

- An aggregate of 1,700,000 incentive stock options to its officers and employees.

All of the aforementioned incentive stock options were granted at an exercise price of $0.25 and are exercisable at any time up until the expiration of their 10-year term on March 1, 2020.

As a result of the granting of these incentive stock options, SGP now has 7,334,336 incentive stock options outstanding.

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. It 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 (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

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.

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 press release include the statement about the Company's intent to finance the development of its projects through a combination of corporate equity, joint venture partnerships and project debt with the support of US government grants and loan guarantees. This statement is only a prediction and involves known and unknown risks, uncertainties and other factors, including the risks inherent in our industry, the challenging 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 our 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.