U.S. Geothermal project begins operations

Renewable energy company focused on the development, production and sale of electricity from geothermal energy, U.S. Geothermal announced that its wholly owned subsidiary, USG Oregon LLC achieved commercial operation at the Neal Hot Springs project near Vale, Oregon.

Electricity generated by the three-module power plant will be sold to Idaho Power Company at the rate of USD$96.00 per megawatt-hour for the remainder of 2012 and at a rate of USD$99.00 per megawatt-hour for the power produced in 2013, under the terms of the project power purchase agreement. Two power modules are currently operating on a continuous basis, producing about 16-18 net megawatts per hour. Commissioning and start-up activities of the third power module were scheduled to begin last week. Operating at full capacity, the three modules are expected to generate between 165,000 to 185,000 megawatt-hours of electricity annually.
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