1505 Tyrell Lane
n/a
Boise, ID 83706
UNITED STATES
Tel. (208) 424-1027
Fax. (208) 424-1030
Industry: Alernative Electricity
On the web: http://www.usgeothermal.com
Employees: 28
U.S. Geothermal Inc. is a Delaware corporation. Through its subsidiary, U.S. Geothermal Inc., the Company is engaged in the acquisition, development and utilization of geothermal resources in the Western Region of the United States of America. Geothermal energy is natural heat energy stored within the Earth's crust at economically accessible depth. In some areas of the Earth, economic concentrations of heat energy result from a combination of geological conditions that allow water to penetrate into hot rocks at depth, become heated, and then circulate to a near surface environment. In these settings, commercially viable extraction of the geothermal energy and its conversion to electricity become possible and a ‘geothermal resource' is present. The Company currently operates two power plants that include, Raft River Unit I in Idaho (through its joint venture with Raft River I Holdings, LLC, a subsidiary of Goldman Sachs) and a plant located in the San Emidio Desert in Nevada. It also has several other properties under development or exploration. Raft River Unit I commenced commercial operations on January 3, 2008. It is currently selling between 9.6 and 11.7 megawatts of power to Idaho Power Company under a net 13 megawatt power purchase agreement which expires in 2032. In May 2008, the Company acquired the geothermal assets, including a 3.6 net megawatt nameplate generating capacity power plant, from Empire Geothermal Power LLC and Michael B. Stewart, located in Washoe County, Nevada. The plant currently generates an approximate average net output of 2.5 megawatts, which is sold to Sierra Pacific Power Corporation. The electrical power generation industry, of which geothermal power is a sub-component, is highly competitive. The Company competes in areas of pricing, grid access and markets. It is subject to federal and state regulation in respect of the production, sale and distribution of electricity.
