Published: 2010-06-11
Idaho, United States –U.S. Geothermal Inc. has been offered a conditional commitment for a US $102.2 million loan guarantee from the U.S. Department of Energy (DOE) to construct the planned 22-megawatt (MW) geothermal power plant at Neal Hot Springs in Eastern Oregon. The conditional commitment was offered through the DOE’s Loan Programs Office.
Idaho’s largest utility, Idaho Power Company, has signed a 25-year power purchase agreement with U.S. Geothermal’s wholly owned subsidiary, USG Oregon LLC, for up to 25 megawatts of power per year.
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