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March 10, 2014
08:25 EDTENB, HTMU.S. Geothermal announces first distribution from Neal Hot Springs project
U.S. Geothermal (HTM) announced today that Oregon USG Holdings LLC has made its first distribution of profits from the Neal Hot Springs project. Oregon USG Holdings is owned 60% by U.S. Geothermal and 40% by a subsidiary of Enbridge (ENB). Under the terms of the U.S. Department of Energy loan agreement, profits are distributed to the equity partners semi- following Final Completion, which was achieved on August 1, 2013. U.S. Geothermal's share of this first distribution is $4.6M, out of a total distribution to the partners of $7.7M, which represents profits generated from the project since initial operation began in November 2012.
News For HTM;ENB From The Last 14 Days
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January 26, 2015
08:16 EDTHTMU.S. Geothermal provides company update
U.S. Geothermal provides this update on the results of its three operating projects for the Q4, and the status of development activities. "All three units, at Neal Hot Springs, Oregon, have been, and are operating smoothly, with Q4 availability of 98.3%. Total generation for the fourth quarter was 54,472 megawatt-hours, which is a result of excellent availability and low seasonal temperatures. Under the terms of our Power Purchase Agreement, or PPA, November and December generation for 2014 was paid at a seasonally adjusted price of $123.34 per megawatt-hour, which is 120% of the 2014 average contract price, while October was paid at the average 2014 contract price of $102.78. For 2015, the average contract price will increase from $102.78-$106.79 per megawatt-hour. At San Emidio, Nevada, the plant performance was exceptional, with Q4 availability of 99.2%. Total generation for Q4 was 21,745 megawatt hours. Under the terms of our PPA, generation during the quarter was paid at the price of $91.17 per megawatt-hour. There is no seasonal adjustment under this power purchase agreement. For 2015, the contract price will increase from $91.17 to $92.08 per megawatt-hour. At Raft River, Idaho, the plant performance was exceptional, with Q4 availability of 97.3%. Total generation for Q4 was 20,614 megawatt-hours, as a result of excellent availability and low seasonal temperatures."

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