Thursday, March 13, 2014

U.S. Geothermal Inc. - GTH.t

U.S. Geothermal Inc. - GTH.t is a renewable energy company focused on developing, owning and operating, clean sustainable electric power from geothermal energy resources.

On March 6, 2014 the company reported NEWS

"U.S. Geothermal Inc. (NYSE MKT: HTM, TSX: GTH) (the “Company”), a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy, announced today that Oregon USG Holdings LLC has made its first distribution of profits from the Neal Hot Springs project.

Oregon USG Holdings is owned 60% by U.S. Geothermal and 40% by a subsidiary of Enbridge Inc. (NYSE: ENB, TSX: ENB). Under the terms of the U.S. Department of Energy loan agreement, profits are distributed to the equity partners semi-annually (February and August) following Final Completion, which was achieved on August 1, 2013. U.S. Geothermal’s share of this first distribution is $4.6 million, out of a total distribution to the partners of $7.7 million, which represents profits generated from the project since initial operation began in November 2012.