U.S. Geothermal CEO steps down, successor named

U.S. Geothermal Inc., a renewable energy company focused on the development, production and sale of electricity from geothermal energy, announced that founder, director and CEO Daniel Kunz will retire as chief executive and a member of the board of directors. Dennis Gilles was named by the board as his successor as CEO.

Under a succession plan, Kunz will serve as a consultant providing executive advisory services for one year to ensure a smooth transition as Gilles assumes his new responsibilities.

Gilles was formerly senior vice president of Calpine Corp., and retired from Calpine in 2011 after 23 years of service. Gilles was part of the expansion and growth of Calpine from its first megawatt to what is now the largest independent power producer in the United States. During his time with Calpine, Gilles was instrumental in overseeing the growth of Calpine's geothermal business from 1 MW to over 750 MWs.

U.S. Geothermal Inc. is a renewable energy company focused on the development, production and sale of electricity from geothermal energy and is operating geothermal power projects at Raft River, Idaho, San Emidio, Nevada and Neal Hot Springs, Oregon. The company is developing El Ceibillo, an advanced stage, steam geothermal prospect located within a 24,710 acre energy rights concession area located 8.5 miles from Guatemala City, the largest city in Central America.

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