Dallas, Texas 03/25/2014 (FINANCIALSTRENDS) – U.S. Geothermal Inc (NYSEMKT:HTM) now has a partner for operating the company’s Neal Hot Springs Geothermal Plant that is located near Vale, Ore. U.S. Geothermal Inc (NYSEMKT:HTM) had developed & operated this plant that is around 75 miles to the northwest of Boise, in the U.S. The company also operates various geothermal power projects situated in Raft Rover & in San Emidio, Nev., & is also developing its geothermal project in the vicinity of Guatemala City, Guatemala. U.S. Geothermal Inc (NYSEMKT:HTM) sold 40% of its Neal Hot Springs Geothermal- Plant to a Canadian company Enbridge, that specializes in delivering its alternative energy. U.S.
Geothermal Inc (NYSEMKT:HTM) received $6.2M in this agreement, as per the release. The company has also invested $14M in development & construction of this plant. U.S. Geothermal Inc (NYSEMKT:HTM)’s Chief Executive officer, Dennis Gilles said that their strategic-partnership with Enbridge now has proved to be beneficial for both the parties. It allows for successful construction and the operation of their Neal Hot Springs geothermal-project. They look forward to a very long & successful partnership with Canada’s Enbridge on this & potentially many other geothermal projects in their portfolio of quality-geothermal resources.”
Enbridge has now invested over $3 billion in different kinds of green power projects, such as wind, solar & waste heat recovery, as per the release. Now, partnering on this Neal Hot Springs project has allowed Enbridge to effectively enter the current geothermal market. U.S. Geothermal Inc (NYSEMKT:HTM) is involved in the renewable green-energy business. Via its subsidiary, the U.S. Geothermal Inc. (Geo-Idaho) the company is engaged in acquisition & development as well as the utilization of geothermal-resources in the Western-Region of the U.S. U.S. Geothermal Inc (NYSEMKT:HTM) has interests in 3 areas in Western United States. One interest is its Raft River area which is situated located in south-eastern Idaho.