U.S. Geothermal signs 20 MW purchase agreement with NV Energy

Boise, Idaho, June 2, 2011 — U.S. Geothermal Inc., a renewable energy company focused on geothermal energy, signed a power purchase agreement between its unit, USG Nevada, and NV Energy, for the purchase of an annual average of up to 19.9 net MW of renewable energy from the San Emidio Geothermal Project located in Washoe County, Nevada.

The 25-year PPA anticipates the development of two geothermal electricity units at San Emidio. The Unit 1 power generation plant, scheduled to achieve commercial operation during the 4th quarter of 2011, is currently under construction and will replace the existing 3.6 net MW plant at San Emidio.

Subject to successful production well development, the Unit 2 geothermal plant is scheduled to be on line during the 2nd quarter of 2013. Two additional Units 3 and 4 are also planned at San Emidio after sufficient drilling has been completed to define additional reservoir production capacity.

The PPA is subject to the Public Utilities Commission of Nevada approval and is expected to be submitted to the PUCN by NV Energy within 100 days. USG Nevada LLC is currently investigating remedies for certain existing constraints related to transmission that may limit the total output of the project to 16 net MW.

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