US Geothermal Receives Loan Guarantee for Oregon Project

28 February 2011 (Last Updated February 28th, 2011 18:30)

The loan amount represents 75% of the total cost of the project and the remaining 25% being funded by Enbridge. US Geothermal has signed a 25-year power purchase agreement with Idaho Power Company to sell up to 25MW of power each year. The firm has also awarded TAS Energy a

The loan amount represents 75% of the total cost of the project and the remaining 25% being funded by Enbridge.

US Geothermal has signed a 25-year power purchase agreement with Idaho Power Company to sell up to 25MW of power each year.

The firm has also awarded TAS Energy a contract to provide a modular binary geothermal power plant for the project.

Neal Hot Springs is the first geothermal plant to receive loan guarantee under DOE's Title XVII loan guarantee programme, which guarantees a loan from the US Treasury's Federal Financing Bank.