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NEVADA ENERGY CO.: PARTNERSHIP ANNOUNCEMENT

 RENO, Nev., May 12 /PRNewswire/ -- Nevada Energy Co. (NASDAQ: MNRGA) is pleased to announce its participation in a partnership established to develop, finance, construct and operate proposed electric power generating facilities in Nevada. This partnership is known as Oreana Power Partners, Limited Partnership ("OPP").
 Nevada Energy Co. and its associates have proposed the development of natural gas fired facilities exceeding 100 MWe of electric power pursuant to proposed long-term power sales agreements with Sierra Pacific Power Co. ("Sierra"). Nevada Energy Co. will retain 25-percent equity ownership of the proposed facilities, Calpine Corp. ("Calpine") will retain 50-percent equity ownership and Geothermal Development Associates ("GDA") will retain 25-percent equity ownership.
 Wholly owned subsidiaries of Nevada Energy Co. and GDA are currently the general partners of OPP. GDA is the original developer of the Steamboat Springs geothermal facility which currently provides eX


PRNEWSWIRE

QIic generating capacity to Sierra. GDA provides governmental permitting, geological, electrical and mechanical engineering services to the independent

power industry in the Western United States and abroad.
 OPP has executed a letter of intent with Calpine to develop, finance, construct and operate the facilities proposed by Calpine and OPP. Calpine has participated in the completion of over 220 MWe of electric generating capacity.
 Shareholders interested in attending the annual meeting of Nevada Energy Co. are hereby notified that such meeting will be held on June 15, 1993, 2 p.m. PST, at the Clarion Hotel, 3800 S. Virginia St., Reno, NV 89502, telephone 800-762-5190. Hotel accommodations will be available to persons identified as company shareholders at discounted corporate rates if reserved by June 11, 1993.
 -0- 5/12/93
 /CONTACT: Jeffrey Antisdel of Nevada Energy, 702-786-7979/
 (MNRGA)


CO: Nevada Energy Co.; Oreana Power Partners; Sierra Pacific Power Co.;
 Calpine Corp.; Geothermal Development Associates ST: Nevada IN: OIL SU:


SH-SG -- SF001A -- 7634 05/12/93 13:47 EDT
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Publication:PR Newswire
Date:May 12, 1993
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