Contract Finalized for Nevada Geothermal Power Plant

[] U.S. Geothermal has entered into a fixed price engineering, procurement and construction contract with Ormat Nevada, to supply equipment and construct the first in a series of planned geothermal power plants at Raft River, Idaho. The agreement also includes a performance guarantee for the completed projects that will incorporate Ormat’s proprietary power generation technology. The terms of the contract also provide U.S. Geothermal and Ormat with the option to build the next two power plants at Raft River on similar terms and conditions. The output of this initial plant will fully meet the power delivery requirements of the first 10 MW, 20-year Firm Power Sales agreement between U.S. Geothermal and the Idaho Power Company.