geothermal project loan

30 August 2010– USG Nevada LLC, a unit of  U.S. Geothermal, entered into agreements with Science Applications International Corp. (SAIC) for a $27 million loan and an engineering, procurement and construction contract for Phase 1 of the 11.5 MW San Emidio project in Nevada.

Phase 1 consists of relocation and replacement of the existing power plant, while Phase 2 is a planned 26 MW expansion. SAIC’s unit, The Benham Companies, LLC, will provide design-build services for the first phase along with TAS Energy.

The project is expected to go into commercial operations by 2011 for Phase 1 and 2013 for Phase 2.

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