ENERGY INVESTORS FUNDS ANNOUNCES COMMITMENT TO T G POWER LLC’S DEVELOPMENT OF HOT SULPHUR SPRINGS GEOTHERMAL POWER PLANT

NEW YORK  (December 17, 2007) Energy Investors Funds (“EIF”), an established private equity fund manager that invests in the U.S. energy and electric power sector, announced that it has committed to fund T G Power LLC’s development of the Hot Sulphur Springs geothermal electric power plant near Elko, Nevada and will ultimately invest in the project itself.  Terms of the transaction were not disclosed.

The project, which is expected to be operational by the end of 2009, is anticipated to generate

32 MW of baseload, renewable electricity, though the site has total net production output rated at 48 MW net.  The first phase of the project is being constructed on land leased from Ellison Ranching Company. 

Nevada Power Company, a wholly owned subsidiary of Sierra Pacific Resources (NYSE:SRP), has contracted with T G Power to purchase the full output of the Hot Sulphur Springs plant.

“We’re excited about the progress of the Hot Sulphur Springs project,” said Andrew Schroeder, Senior Partner of Energy Investors Funds.  “The development of power plants fueled by renewable resources, such as geothermal energy, has become increasingly important and we expect to continue to see opportunity for investment in this space.”

“The development of the Hot Sulphur Springs project represents the culmination of a lot of difficult work that has been put into the site over the last five years,” said Martin Buckley, President of T G Power LLC.  “Once the plant is constructed and begins commercial operations, it will provide important clean electricity to Nevada Power customers in an environmentally responsible manner.  The project will produce enough power to serve the needs of over 30,000 homes.  I’d like to thank all of the parties involved in this transaction for their hard work and dedication in getting the project to the construction phase.”

“This agreement continues our commitment to increase the supply of renewable energy in Nevada,” said Tom Fair, executive, renewable energy for Sierra Pacific Resources, “Nevada is number one in the country in geothermal energy per capita and increasing our renewable output is an important part of our balanced energy portfolio strategy.”

T G Power recently awarded the mandate for the construction funding and tax equity participation.  DZ Bank and Fortis Capital are scheduled to provide construction financing for the project’s continued development and ultimate construction while Fortis Capital and J.P. Morgan Capital will provide the tax equity for the project.

Lags Exploration of Florida has performed the drilling for the production wells and injection wells necessary for obtaining the geothermal fluid production.  JBR Environmental Consultants, Inc. of Elko, Nevada has provided environmental consulting services to acquire all the necessary permits and licensing agreements for all phases of the project.

The Nevada law firm of Jones Vargas has provided legal counsel on the permitting and licensing issues and Atlanta-based law firm Marshall & Lueder has led the negotiations for the power purchase agreement with Nevada Power and has also led the negotiations for various project construction and supply agreements.

About Energy Investors Funds

Energy Investors Funds was founded in 1987 as the first private equity fund manager dedicated exclusively to the independent power and electric utility industry.  Its consistent, proven investment strategy is to create geographically and technologically diversified portfolios of electric power-related assets that provide superior risk-adjusted equity returns with current cash flow and capital appreciation.  As investment managers Energy Investors Funds seeks to mitigate commodity risk (fuel and electricity) by focusing primarily on acquiring power assets with long-term off-take contracts.  Energy Investors Funds has mobilized over $3.3 billion in capital, and currently manages six private equity funds from its offices in Boston, New York, and San Francisco.  These funds have made over 90 diversified investments with a combined underlying asset value exceeding $7 billion.  For more information visit www.eif.com.

About T G Power LLC

TG Power LLC (TGP) is headed by Mr. Martin Buckley of Trussville, Alabama. The entity was formed in 2006 and acquired a number of ownership interests from third parties along with the development rights to bring the project into successful development and construction. TGP anticipates establishing other entities to develop additional geothermal projects and has acquired more than 15,000 acres of geothermal developable area. The potential for the site is not entirely known and further testing and validation will occur in 2008. From initial evaluations, the area may be able to support more than 150 MW of geothermal generated power and as much as 200 MW depending upon technology advancements and improved techniques for finding the desired geothermal resources.  For more information, visit our web site at www.tgpowerllc.com.

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