Business & Finance
Business and Finance
Business and Finance 
Tue, November 3, 2009
U.S. Geothermal Inc.: Key Construction Permit Approved for U.S. Geothermal's Neal Hot Springs Project
BOISE, IDAHO--(Marketwire - Nov. 3, 2009) - U.S. Geothermal Inc. ("U.S. Geothermal") (TSX:GTH)(NYSE Amex:HTM), a renewable energy company focused on the development, production and sale of electricity from geothermal energy, announced today that it has received the Conditional Use Permit from the Malheur County Planning Commission for construction of its proposed 22 net megawatt power plant at Neal Hot Springs in eastern Oregon. The Conditional Use Permit received unanimous approval at a September 24, 2009 Planning Commission meeting and was issued on October 28, 2009.
Daniel Kunz, U.S. Geothermal's President and CEO said, "Approval of the Conditional Use Permit is a key project milestone. We appreciate the continued support from Malheur County and the State of Oregon as we advance toward construction of the Neal Hot Springs geothermal power plant." U.S. Geothermal anticipates receipt of a term sheet for a project loan from the U.S. Department of Energy for the Neal Hot Springs project which is currently undergoing due diligence review. Work also continues on a draft power purchase agreement that is projected to be completed soon. The $106 million project is expected to qualify for about $27 million under the ITC cash grant program and is currently planned to be online by the fourth quarter of 2011.
About U.S. Geothermal:
U.S. Geothermal, a renewable energy development company with operating geothermal power plants at Raft River, Idaho and San Emidio, Nevada, is proceeding with a temperature gradient drilling program and has recently completed development drilling of a second full scale production well at Neal Hot Springs toward development of its third operating geothermal power plant.
Please visit our Website at: [ www.usgeothermal.com ]
The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. These statements are based on U.S. Geothermal Inc.'s current expectations and beliefs and are subject to a number of risks and uncertainties that can cause actual results to differ materially from those described. Readers are cautioned to review the risk factors identified by the company in its filings with Canadian and US securities agencies. Forward-looking statements are based on management's expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management's expectations, beliefs, or opinions, or other factors, should change.
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