News Releases

Sierra Pacific Resources Announces Sale of Affiliate

Sep 28, 2003

Sierra Pacific Resources
Contact: Andrea Smith
Phone: (702) 367-5683

Las Vegas, NEV. -- Sierra Pacific Resources (NYSE:SRP) announced today that on Friday, it finalized the sale of Sierra Energy Company (dba e.three and e.three CES), a wholly owned subsidiary, to Ameresco. Terms of the sale were not disclosed.

The subsidiary was founded in 1997 and provides energy performance contracting, conservation retrofits, energy conservation consulting, energy information services in Nevada Power Company and Sierra Pacific Power Company's service territory and district cooling services at the City Centre Plant in downtown Las Vegas for commercial and industrial customers.

Ameresco was founded in April 2000 and has since acquired Citizen's Conservation Services, DukeSolutions and LG&E Enertech as part of its growth strategy.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for most of southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California. Sierra Pacific Power Company also distributes natural gas in the Reno-Sparks area of northern Nevada. Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns 50 percent interest in an interstate natural gas transmission partnership.