Renewables

geothermal loan guarantee

U.S. Geothermal Inc. closed on a $96.8 million Department of Energy loan guarantee to build a planned 23 MW geothermal power plant in Oregon.

TAS Energy Inc. will construct the Neal Hot Springs and Idaho Power Co. signed a 25-year power purchase agreement to purchase up to 25 MW of electricity per year.

The plant is one of the first geothermal projects to complete a loan guarantee. The loan represents 75 percent of the total project costs.

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