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HTM > SEC Filings for HTM > Form 8-K on 20-Nov-2012All Recent SEC Filings

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Form 8-K for US GEOTHERMAL INC


20-Nov-2012

Other Events, Financial Statements and Exhibits


Item 8.01 Other Event

On November 19, 2012, the Company announced that on November 16, 2012 its' wholly owned subsidiary, USG Oregon LLC, achieved commercial operation at the Neal Hot Springs project located near Vale, Oregon.

Under the terms of the project power purchase agreement, electricity generated by the three-module power plant will now be sold to Idaho Power Company at the rate of $96.00 per megawatt-hour for the remainder of 2012 and at the rate of $99.00 per megawatt-hour for the power produced during 2013. Currently, two power modules are operating on a continuous basis, producing approximately 16 to 18 net megawatts per hour. The third power module is scheduled to begin commissioning and start-up activities during the last week of November. With three modules operating at full capacity the project is expected to generate between 165,000 to 185,000 megawatt-hours of electricity each year.

The information provided in this report may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995, including statements regarding the schedule for commissioning the third power module and production potential. These statements are based on U.S. Geothermal Inc.'s current expectations and beliefs and are subject to a number of risks and uncertainties that can cause actual results to differ materially from those described, including but not limited to, schedule delays and inability to achieve anticipated production levels. 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.



Item 9.01 Financial Statements and Exhibits

(c) Exhibits

99.1 Press release dated November 19, 2012


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