RiskMetrics Supports Incumbent Sierra Geothermal Board

Sierra Geothermal Power Corp. (TSX VENTURE:SRA) ("SGP") today reported that the
independent proxy advisor RiskMetrics Group recommends that Sierra shareholders
support the incumbent Board of Directors in a proxy contest.


"RiskMetrics represents important, independent support for our view that
shareholders should vote in support of Sierra's board and management," said Gary
Thompson, Sierra's President and Chief Executive Officer. "Now it is crucial for
all shareholders to actively deliver their green proxies to prevent directors
with conflicting loyalties from controlling Sierra's board."


In its report dated January 14, 2010, RiskMetrics said the incumbent board and
management's actions appear reasonable and "the intricate business relationships
among the dissident nominees appear to be worrisome."


Said RiskMetrics, "The board has the right strategy of becoming a major
independent producer of geothermal power. Two future milestones: (i) 50 MW
bankable feasibility by the end of 2010 and (ii) power production by 2012, have
been conveyed to the market. $20 million out of the $50 million required for (i)
have been secured. A future financing plan has also been outlined. There is no
contrary evidence to prove Sierra is not on track now."


RiskMetrics closely analyzed the relationships between the dissident nominees
and Sierra's competitor Ram Power, Corp, which was formed by a merger last year.
RiskMetrics also carefully considered the July 2009 discount price takeover
proposal, which was supported by the dissident and would have resulted in
Sierra's participation in the Ram Power merger.


Said RiskMetrics, "we lean toward the management's explanation that they did the
right thing not to participate in the Ram Arrangement. In this sense, Sierra,
standing alone, has outperformed the merger by approximately 41% since July
2009."


RiskMetrics also stated that if the dissident's plan is successful, "the size of
the board will be more than doubled, which is disproportionally large for a
venture issuer and will result in increased expenses and cumbersome
administrative process. Given that the dissident has not met the burden of
proving that such a dramatic change is warranted/this proposal does not warrant
shareholder approval."


Concluded RiskMetrics, "In our view, the dissidents have not met the burden of
proving that a majority change of the Sierra board is warranted. We have decided
to support management for the following main reasons:


(1) we acknowledge that the Sierra board has the right to question a seemingly
discount offer in the case of the Ram Offer and the subsequent strong stock
performance (of Sierra) has further proved the board's cautionary approach in
July 2009.


(2) management's actions appear reasonable and they have not made any major
strategic missteps (other than missing the equity financing window in early
2008, partly due to shareholder opposition).


(3) a slate of dissident nominees comprised entirely of directors connected to a
business combination forming a competing company (where the dissident has much
larger investment) does not sufficiently safeguard the interests of minority
shareholders of SRA.


Therefore support for the dissident nominees is not warranted."

Mr. Thompson, the President and CEO of Sierra, added "In my own discussions with
shareholders during this proxy contest, many have voiced concerns similar to
those raised by RiskMetrics about the dissident campaign. I believe many
shareholders have heard our position and support it, and I urge all of you to
vote your Green proxies to ensure that your company does not fall to the
dissidents."


RiskMetrics is an independent voting advisory service whose recommendations are
followed closely by many institutional shareholders. It recommended that
shareholders use management's GREEN PROXY to vote against the dissident's
resolution to increase the size of the board to 13 from six, and to vote
withhold on the election of seven new dissident directors. RiskMetrics added
that shareholders should NOT VOTE the dissident's proxy.


How to Cast Your Vote

The Management Circular and related proxy materials, including the GREEN proxy,
have been mailed to persons who were shareholders of record as of the close of
business on December 15, 2009. Investors and security holders may obtain a free
copy of these documents on our website at www.sierrageopower.com/proxy at the
Canadian securities regulators web site www.sedar.com and by mail.


You can request the materials by contacting Anthony Srdanovic, Sierra Geothermal
Power Corp., Suite 500 - 666 Burrard Street, Vancouver, B.C., Canada, V 6C 3P6,
or by telephone: [phone], or by email [e-mail] or
follow the web link http://www.sierrageopower.com/index.php/proxy. 


Sierra and its directors, executive officers and other members of its management
and employees may be deemed to be participants in the solicitation of proxies
from Sierra's shareholders in connection with the proposed acquisition.
Information concerning the interests of Sierra's management who are
participating in the solicitation is set forth in the Management Circular.


If you have any questions or need assistance in completing your GREEN proxy,
please call Laurel Hill Advisory Group at toll free 1-888-534-1149 or email at
[e-mail] and they will be happy to help.


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. Sierra 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 news release may contain forward-looking statements. All statements, other
than statements of historical fact, included or incorporated by reference in
this news release are forward-looking statements, including, without limitation,
statements regarding activities, events or developments that Sierra expects or
anticipates may occur in the future. Forward-looking statements can be
identified by the use of forward-looking words such as "may", "would", "could",
"expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or
similar words or the negative thereof. Forward-looking statements in this news
release include statements that Sierra's milestones include (i) 50 MW bankable
feasibility by the end of 2010 and (ii) power production by 2012 and that a
future financing plan has also been outlined.


There can be no assurance that the plans, intentions or expectations upon which
these forward-looking statements are based will occur. Readers are cautioned not
to place undue reliance on these forward-looking statements, which are not a
guarantee of performance and are subject to a number of uncertainties and other
factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. These factors include
general economic and market conditions, changes in the law, actions of
competitors, drill results and other changes in circumstance, and Sierra's
ability to implement business strategies and pursue its business plan. In
addition, all forward-looking statements involve risks and uncertainties,
including the risks and uncertainties detailed in Sierra's filings with the
applicable Canadian securities commissions, copies of which are available at
www.sedar.com. We urge you to carefully consider these factors.


All of the forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary statement. The
forward-looking statements included in this news release are made as of the date
of this news release and Sierra undertakes no obligation to publicly update such
forward-looking statements to reflect new information, subsequent events or
otherwise, except as required by law.