U.S. Geothermal's Neal Hot Springs Project Update
BOISE, IDAHO--(Marketwire - Dec 13, 2012) - U.S. Geothermal Inc. (TSX:GTH)(NYSE MKT:HTM), a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy, provides this update on the Neal Hot Springs project located near Vale, Oregon.
The three module plant is operating and currently delivering 23.0 net megawatts ("MW") to our customer, Idaho Power Company, with the following status of each module unit:
Unit 1 is currently online and operational with gross generation of 11.0 MW;
Unit 2 is also online and operational with gross generation of 10.4 MW; and,
Unit 3 currently online and was recently synchronized to the grid. Gross generation from Unit 3 is 8.7 MW operating in sub critical mode.
The three modules are still undergoing various mechanical and control system adjustments, tests and modifications to meet overall design criteria. The project contractor is expected to complete work during the first quarter of 2013.
Please visit our Website at: www.usgeothermal.com
About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy and is operating geothermal power projects at Raft River, Idaho, San Emidio, Nevada and Neal Hot Springs, Oregon. The company is developing El Ceibillo, an advanced stage, steam geothermal prospect located within a 24,710 acre (100sq km) energy rights concession area located 8.5 miles (14 km) from Guatemala City, the largest city in Central America.
The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. These statements are based on U.S. Geothermal Inc.''s current expectations and beliefs and are subject to a number of risks and uncertainties that can cause actual results to differ materially from those described, including but not limited to, the results from the start up activities and ongoing production potential of Neal Hot Springs. Readers are cautioned to review the risk factors identified by the company in its filings with Canadian and US securities agencies. Forward-looking statements are based on management''s expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management''s expectations, beliefs, or opinions, or other factors, should change.
