U.S. Geothermal Receives $33 Million Cash Grant at Neal Hot Springs

U.S. Geothermal Receives $33 Million Cash Grant at Neal Hot Springs 
BOISE, IDAHO -- (Marketwired) -- 04/03/13 -- 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, announced today that its subsidiary USG Oregon LLC
received a payment of $32,749,541 from the U.S. Department of
Treasury. The cash grant is for Specified Energy Property in Lieu of
Tax/Credits relating to the Neal Hot Springs geothermal power plant
under Section 1603, Division B of the American Recovery and
Reinvestment Act of 2009.  
The proceeds of the cash grant will be used to fund $8.5 million in
plant and well field cash reserves. Approximately $13.3 million of
the grant is expected to pay down the outstanding project loan with
the balance available for distribution to the equity partners.  
About U.S. Geothermal: 
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. 
Please visit our Website at: www.usgeothermal.com  
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
work underway to finalize the construction 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. 
The NYSE MKT and the TSX do not accept responsibility for the
adequacy of this release. 
Contacts:
U.S. Geothermal Inc.
Saf Dhillon
Investor Relations
866-687-7059
208-424-1030 (FAX)
saf@usgeothermal.com
www.usgeothermal.com
 
 
Press spacebar to pause and continue. Press esc to stop.