US Geothermal just announced the successful completion and test of the new large-diameter NHS-2 well at Neal Hot Springs. The new well, which flowed at a rate of 3,027 gallons per minute under artesian pressure, has a production temperature of 287 degrees and is the fourth and final production well needed for the 23 net MW project.
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In a press release, Daniel Kunz, President and … Read the rest
US Geothermal (HTM) is announcing this morning that it has successfully drilled and tested a third production well at the Neal Hot Springs geothermal project Oregon. At a production temperature of 287.5 degrees and pressure at 2770 gallons per minute it is the most promising of the wells drilled so far (this is the 3rd).
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“Well NHS-8 has the highest temperature and artesian flow … Read the rest
US Geothermal (HTM) has provided updates on its geothermal operations in several locations.
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Neal Springs
– an injection well has been drilled to 2465 feet and successfully tested
– a 2nd well at 1950 is expected to be completed within a week or two
– a production well at 2350 feet expected to reach production within a couple weeks
– equipment procurement and pipeline fabrication … Read the rest
U.S. Geothermal (HTM) is making its way back to the buck level this morning on news it has been offered a conditional commitment for a $102.2 million loan guarantee from the Dept of Energy to help construct the 22MW geothermal plant at Neal Hot Springs in Eastern Oregon. The company already has a 25 year power purchase agreement in place for Neal Springs with Idaho Power which is Idaho’s largest utility.
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By Jeff Siegel of GreenChipStocks.com
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A Sleeping Giant
From time to time, you may find me referring to geothermal energy as the sleeping giant; it is an extremely powerful form of renewable energy that often gets overlooked. Let’s face it, solar and wind are a lot more visible than geothermal wells in the Nevada desert.
But geothermal does have one bragging right — a very important bragging right … Read the rest
U.S. Geothermal (HTM) announced this morning that its subsidiary USG Oregon LLC has signed a 25 year power purchase agreement (“PPA”) with Idaho Power, a subsidiary of Idacorp (IDA) for the sale of up to 25MW from their Neal Hot Springs project in Oregon. Surprisingly, the stock didn’t move at all on the news, but it could very well move once the PPA is approved by the Idaho Public Utilities Commission in the … Read the rest
Prez Obama spoke at Nellis Air Force base today discussing the importance of renewable energy and announcing funding efforts for solar and geothermal. Nellis Air Force base is home to the largest solar installation in the Western hemisphere and provides 25% of the electricity for the 12000 who live and work at the base, saving the military about $1 million a year.
Here are some highlights of the speech..
“America produces less than 3 percent … Read the rest
US Geothermal (HTM) is surging 25% today and getting back above a buck on news the company’s Neal Springs geothermal plant has been approved for a US Department of Energy due diligence review for an $85 million loan as part of the Energy Policy Act of 2005. The DOE loan is expected to provide about 80% of the total estimated cost of the binary cycle geothermal plant which the company is expected to begin construction … Read the rest
I’ve been going through some green stock charts and came across US Geothermal (HTM), a speculative geothermal play with no profits yet but promising in the geothermal energy space considering the US is expected to double geothermal capacity within 5 years. On Oct 14th, the company won a DOE grant for its Raft River project in Idaho, which prompted the CEO, COO and CFO to buy shares in the company just a few days later. … Read the rest
US Geothermal (HTM) has announced an agreement with the Idaho Power Company to design and build a 10 mile, 36MW transmission line and substation from the Neal Hot Springs geothermal site to IPC’s transmission grid which is expected to begin transmitting power in about 2 years. IPC will be responsible for the design, engineering and construction.
“This agreement is a critical milestone in the development of our project at Neal Hot Springs,” said Daniel Kunz, … Read the rest