U.S. Geothermal to develop two geothermal projects in U.S., Guatemala

U.S. Geothermal (NYSE: HTM, TSX: GTH) said its development team will focus on two projects due to the “current weakened market” for renewables in the U.S.: Unit II at the San Emidio geothermal project in Nevada and the El Ciebello steam geothermal project in Guatemala.

U.S. Geothermal will add the second unit at San Emidio under the existing power purchase and transmission agreement. The company said it must complete long-term financing for the 8.6 MW Unit I before it can secure financing for Unit II. Engineering, procurement and construction contractor TAS Energy Inc. began performance testing on Unit I in May.

The company holds geothermal energy rights to 100 sq. km. (38.6 sq. miles) adjacent to Guatemala City. El Ciebello is a planned 25 MW steam power plant.

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