New Projects, Renewables

Geothermal energy project in Nevada is “substantially” completed

U.S. Geothermal Inc. (NYSE: HTM, TSX: GTH) has substantially completed the 8.6 MW San Emidio geothermal power project in Nevada.

The company also said its wholly owned subsidiary, USG Nevada LLC, received the $1.05 million balance of its $11.75 million cash grant from the U.S. Department of Treasury, and it has reached final commercial settlement with its engineering, procurement and construction contractor for the San Emidio project. USG received the initial $10.7 million of the grant for San Emidio in November 2012.

The output from the power plant is being sold under a 25-year power purchase agreement with Sierra Pacific Power Co.

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