U.S. Geothermal Inc. Announces Substantial Completion at Neal Hot Springs Power
BOISE, IDAHO -- (Marketwired) -- 07/02/13 -- 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 USG Oregon LLC, has accepted
the Facility Substantial Completion certificate for the 22 megawatt
Neal Hot Springs Project.
The certificate of Substantial Completion was received from TAS
Energy, Inc. on June 17 and approval was granted by USG Oregon on
June 27. Under an Equipment Supply Agreement, TAS Energy provided
three innovative, high efficiency modular energy systems that
generate approximately 22 MW (net) of power, which is being sold to
Idaho Power under a long term sales agreement. Achieving Substantial
Completion required, among other things, passing an integral 7 day
reliability test. The reliability test required all three modules to
operate continuously for 7 days while generating a minimum of 97% of
the designed power output.
"We are very excited to have completed this significant milestone.
Since initially synchronizing these units to the grid in the 4th
Quarter 2012, there has been a tremendous amount of work associated
with optimizing the plant performance by the teams from TAS Energy
and U.S. Geothermal, and their efforts are very much recognized and
appreciated.", said Dennis Gilles, CEO of US Geothermal.
"Collaborating with the US Geothermal team in bringing our innovative
ORC technology to the geothermal industry has been a rewarding
experience for the TAS Energy team and we are equally excited that
our customer has achieved this important milestone.", said JT
Grumski, CEO of TAS Energy.
Please visit our Website at: http://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.
About TAS Energy Inc.:
TAS Energy, Inc. is a technology company providing clean economic
power solutions by focusing on the energy efficiency and renewable
energy markets. TAS designs and manufactures modular energy
conversion and cooling systems for the power generation industry;
district, commercial and industrial process cooling; mission
critical; and the renewable energy sector. TAS specializes in high
efficiency standard product designs for the geothermal and industrial
waste heat power generation markets, gas fired generation
augmentation, chilled water systems, modular data centers and clean
heat and power on-site energy systems. More can be learned at
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
exploration, production and injection well drilling at El Ceibillo.
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.
U.S. Geothermal Inc.
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