USG Substantially Close To Completing San Emidio Power Project
News: U.S. Geothermal (USG) has completed the bulk of the work on a geothermal power project in the US state of Nevada. The company is to sell the power generated from the 8.6 megawatt (MW) San Emidio project to Sierra Pacific Power under a 25-year power purchase agreement (PPA). The US Treasury has also provided the remaining US$1.05mn of a US$11.75mn cash grant to the company's wholly owned subsidiary USG Nevada. Meanwhile, USG and the project's engineering, procurement and construction (EPC) contractor have reached a final commercial settlement.