U.S. Geothermal Inc. announced today its financial and operating results for the fourth quarter and full year ended December 31, 2017 and highlighted notable achievements in 2017.
Development Projects Update:
- Successfully completed multi-well flow test at the recently drilled Southwest Zone wells at San Emidio II. Flowing temperature from the three wells ranged from 319°F to 325°F. Test results confirm resource estimate of 25 megawatts (at 90% probability) up to 47 megawatts (at 50% probability).
- El Ceibillo development project awarded $3.42 million grant from the German Development Facility for Latin America for further production drilling.
- U.S. Trade and Development Agency (USTDA) awarded a $825,319 grant to U.S. Geothermal Guatemala S.A. to provide funding for a feasibility study on the El Ceibillo development project.
- Company continues to respond to RFPs/RFOs from potential customers in order to secure power purchase agreements.
