The company said that only agricultural customers planning to install hydro plants would be eligible for the newly launched HydroGenerations programme. Under the initiative, such customers would receive a rebate of US$2.5 per Watt.

Sierra Pacific Resources said that the new initiative would be run by both of its wholly-owned subsidiaries – Sierra Pacific Power and Nevada Power Co. The initiative follows success with a programme for solar power and the companies are also launching a wind power initiative.

The programmes are meant to promote the installation of renewables while delivering reduced energy bills.