U.S. Geothermal Announces Mechanical Completion of Second Power Module at Neal Hot Springs
BOISE, IDAHO -- (Marketwire) -- 06/28/12 -- U.S. Geothermal Inc. (TSX: GTH)(NYSE MKT: HTM)(NYSE Amex: HTM), a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy, today announced that its construction contractor has provided a notice of mechanical completion for the second of three 7.3 net megawatt, air cooled power plant modules at the Company's Neal Hot Springs project, located in Malheur County, Oregon.
Construction on the 22 net megawatt project is approximately 93 percent complete and is expected to achieve full commercial operation late in the third quarter of 2012. Commissioning activities on the first module are progressing, with the first turbine roll scheduled to occur in August. Once the turbine has been commissioned, the first module will undergo performance and acceptance testing, leading to continuous operation. All major components are now on site and the third power plant module now slated to achieve mechanical completion during the second week of July.
Drilling for the remaining injection capacity began on June 12. Three injection wells, targeted at zones with demonstrated known permeability, are included in the drilling program. To date, approximately 58 percent of the required injection capacity has already been drilled.
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About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a leading renewable energy development company that is operating geothermal power projects at Raft River, Idaho and San Emidio, Nevada. The Neal Hot Springs project, which is currently under construction, will be the company's third operating power project. The company holds geothermal energy rights to 69,500 acres comprising six advanced stage geothermal development projects. The San Emidio project is currently undergoing construction of a new 8.6 net MW binary cycle power plant.
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 ongoing injection well drilling at 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) firstname.lastname@example.org www.usgeothermal.com
Source: U.S. Geothermal Inc.