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November 19, 2012
09:05 EDTHTMU.S. Geothermal's Neal Hot Springs achieves commercial operation
U.S. Geothermal announced today that on November 16 its wholly owned subsidiary, USG Oregon, achieved commercial operation at the Neal Hot Springs project located near Vale, Oregon. Under the terms of the project power purchase agreement, electricity generated by the three-module power plant will now be sold to Idaho Power Company at the rate of $96.00 per megawatt-hour for the remainder of 2012 and at the rate of $99.00 per megawatt-hour for the power produced during 2013. Currently, two power modules are operating on a continuous basis, producing approximately 16 to 18 net megawatts per hour. The third power module is scheduled to begin commissioning and start-up activities during the last week of November. With three modules operating at full capacity the project is expected to generate between 165,000 to 185,000 megawatt-hours of electricity each year.
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October 16, 2014
08:13 EDTHTMU.S. Geothermal acquires Earth Power Resources for 692,769 shares of stock
U.S. Geothermal announced that it has signed an Agreement and Plan of Merger to acquire Earth Power Resources, or EPR. Under the terms of the Agreement, EPR will be merged with and into U.S. Geothermal. EPR shareholders will receive a total of 692,769 shares of U.S. Geothermal stock in exchange for all outstanding shares of EPR stock. EPR will have no outstanding debts or unpaid obligations at the time the transaction closes. The transaction is expected to close by the end November following shareholder approval by EPR Shareholders. The assets acquired from EPR include geothermal leases covering 26,017 acres in Nevada representing three projects, as well as EPR's complete geothermal resource database of new project opportunities located throughout the western United States. EPR's management evaluated and compiled the database over its nearly 40 years of geothermal exploration experience. Resource reports prepared for EPR over the past several years by GeothermEx, a consulting geothermal engineering firm, provide estimates that the energy potential contained within the three projects is in the range of 158 to 359 megawatts.

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