U.S. Geothermal Inc.’s unit, USG Oregon LLC, achieved commercial operation at the Neal Hot Springs project located near Vale, Oregon.
Under the terms of the project power purchase agreement, electricity generated by the three-module power plant will now be sold to Idaho Power Co. at the rate of $96.00 per MWh for the remainder of 2012 and at the rate of $99.00 per MWh for the power produced during 2013.
Currently, two power modules are operating on a continuous basis, producing about 18 MW per hour. The third power module is scheduled to begin commissioning and start-up activities during the last week of November. With three modules operating at full capacity the project is expected to generate between 165,000 to 185,000 megawatt-hours of electricity each year.
U.S. Geothermal 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 energy rights concession area located 8.5 miles from Guatemala City, the largest city in Central America.