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U.S. Geothermal Inc.
U.S. Geothermal Inc. Provides Update on Raft River Expansion Program



May 1, 2017

U.S. Geothermal Inc. (the "Company") (NYSE MKT:HTM), a leading and profitable renewable energy company focused on the development, production, and sale of electricity from geothermal energy, is pleased to provide an update on its Raft River expansion project.

Phase II of the ongoing plan to increase the output at Raft River from its current generation level of 10 MWs, up to its contract maximum of 13 MWs, commenced in March with the successful installation of the pump in well RRG-5.  Production from RRG-5 started on March 21, 2017 and is currently operating at the rate of 1,100 gallons per minute.  The addition of this flow to the plant has increased net power production by approximately 0.71 MWs. 

"We are pleased to report success from this initial step of work at Raft River, and we expect to have additional increases in generation over the quarter as we upgrade downstream equipment," said Douglas Glaspey, President and COO.  "We remain optimistic that the positive results at Raft River, coupled with our ongoing hybrid cooling efforts at Neal Hot Springs will move us toward our short-term goal of increasing generation from our existing projects."

To date, the reservoir response has been significantly better than projected, with minimal drawdown in well RRG-5 and no impact to water level in the adjoining wells.  The well temperature is currently stable at over 247°F.   The next step to optimize output from the wellfield is to increase the capacity of the injection system. After an injection pump is upgraded, a further increase in fluid flow to the plant is expected, which will result in a corresponding increase in generation, plus allow for additional production well increases.   

About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a leading and profitable renewable energy company focused on the development, production and sale of electricity from geothermal energy. The Company is currently operating geothermal power projects at Neal Hot Springs, Oregon, San Emidio, Nevada and Raft River, Idaho for a total power generation of approximately 45 MWs. The Company is also developing an additional estimated 115 MWs of projects at: the Geysers, California; a second phase project at San Emidio, Nevada; at Crescent Valley, Nevada; and the El Ceibillo project located near Guatemala City, Guatemala.  U.S. Geothermal's growth goal is to reach over 200 MWs of generation by 2021 through a combination of internal development and strategic acquisitions.

The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995.  Readers are cautioned to review the risk factors identified by the company in its filings with US and Canadian securities agencies. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance, development schedules or estimated resources of U.S. Geothermal, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. These forward-looking statements may include statements regarding perceived merit of properties; interpretation of the results of well tests; project development; resource megawatt capacity; capital expenditures; timelines; strategic plans; or other statements that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from U.S. Geothermal's expectations include the uncertainties involving the availability of financing in the debt and capital markets; uncertainties involved in the interpretation of results of well tests; the need for cooperation of government agencies in the development and operation of properties; the need to obtain permits and governmental approvals; risks of construction; unexpected cost increases, which could include significant increases in estimated capital and operating costs; and other risks and uncertainties disclosed in U.S. Geothermal's Annual Report on Form 10-K for the year ended December 31, 2016 filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities and in other U.S. Geothermal reports and documents filed with applicable securities regulatory authorities from time to time. Forward-looking statements are based on management's expectations, beliefs and opinions on the date the statements are made.  U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management's expectations, beliefs, or opinions, or other factors, should change.

The NYSE MKT does not accept responsibility for the adequacy of this release.

For more information :

Organization:
U.S. Geothermal Inc.
www.usgeothermal.com

Contact:
Scott Anderson
Director, Investor Relations & Corporate Communications
Tel: 208-424-1027
E-mail: sanderson@usgeothermal.com

             

Link http://www.globalrenewablenews.com/detail_news.php?ID=635116
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