"Our third quarter operating results are in line with our expectations, and were driven by the improved third quarter availability at all three of our facilities, and lower than planned operating expenses" said Dennis Gilles, U.S. Geothermal's Chief Executive Officer.
"All three facilities are now operating as expected and we look forward to continued high availabilities for the balance of the year and beyond. The fourth quarter, which we are now in, is projected to be our highest contributing quarter due to higher generation as a result of the colder weather and the maximum energy prices on average for the year. We continue on track to meet our guidance for the year."
Recent Operation Achievements:
- Generated fleet wide total 62,842 megawatt-hours in the third quarter of 2013
- Delivered quarterly average availabilities of: Raft River - 99.9%, San Emidio - 94.7%, Neal Hot Springs - 87.2%
- Completed deepening of resource confirmation well EC-1 at El Ceibillo project in Guatemala, and began well testing
- Completed drilling of wells OW-12 and OW-10 (61-21) for San Emidio II plant expansion
- Celebrated Grand Opening of Neal Hot Springs project, with U.S. FERC Chairman Jon Wellinghoff attending along with U.S. DOE, State, Local and Tribal representatives