U.S. Geothermal Inc.: Two of Three Power Plant Modules at Neal Hot Springs Are Producing Up to 16.8 Megawatts
BOISE, IDAHO -- (Marketwire) -- 11/07/12 -- 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, today announced an update on the construction of its three module, 22 net megawatt geothermal power plant at the Neal Hot Springs project, located in Malheur County, Oregon.
Construction work for the air cooled power plant is largely complete and the contractor is now focused on achieving commercial operation within the fourth quarter of 2012. Current activities include:
-- For several days now Modules 1 and 2 have been operating smoothly on a 24 hour per day basis throughout the night and day; -- Yesterday, the combined net generation reached 16.8 megawatts ("MWs") overnight then reduced to 15.2 MWs as the daytime ambient air temperature increased; -- Additional minor adjustments will continue to bring the two modules offline intermittently for various periods before they are deemed ready for commercial operation; -- Three of the four production wells (NHS 1, 2 and 8) have been regulated to provide the geothermal brine required by the two modules and currently produce a total flow rate of 75% of full capacity; -- Injection wells NHS 3, 6, 10, 11 and 13 are currently in service to accept the spent geothermal brine; and, -- Module 3 achieved mechanical completion and will be charged with working fluid tomorrow. The contractor is also performing final system checks of Module 3 in preparation for starting and synchronizing its output to the grid.
After Module 3 begins operating efficiently the combined net power production for all three modules is projected to average 22 MWs.
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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 in the final stages of contractor close-out and is currently producing power from a new 9 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 start up of the Neal Hot Springs power plant. 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.