U.S. Geothermal Inc. Announces San Emidio Achieves Commercial Production (Market Wire)
U.S. Geothermal Inc., a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy, is pleased to announce that its wholly owned subsidiary, USG Nevada LLC, has notified its customer NV Energy that Commercial Operation was achieved by the new 11.75 gross (8.6 net) megawatt Unit I power plant. Electrical energy from the new power plant is now being sold for $89.75 per megawatt hour ("MWH"), subject to a 1% annual escalator, under the terms of a 25 year power purchase agreement. The new power plant is projected to generate an average of approximately 71,500 MWHs of electrical power each year. The new power plant replaces an existing facility that, prior to being removed from service, generated approximately 23,000 MWH annually using the same production and injection wells.
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