U.S. Geothermal Springs 5% on Operational Update
U.S. Geothermal Inc. ( HTM ) is up 4.8% after providing an update on three of its operating projects.
Neal Hot Springs, Oregon: HTM reports that all three modules are operating and for the past three days have averaged 22.4 net megawatts per operating hour (31.5 gross megawatts). Under the terms of the PPA, November and December generation is paid at a seasonally adjusted price of $115.20 per megawatt-hour, which is 120% of the 2012 contract price. The equipment supply contractor has stated its intention to commence required plant performance testing this week.
San Emidio, Nevada: Performance testing was concluded in October, and the San Emidio power plant has continued to operate on a normal basis. In November the plant grossed 12.41 megawatts and achieved 94.6% availability for the month. December operations were interrupted for 3 days due to the failure of an electrical component in a variable frequency drive. The plant has averaged 9.65 net megawatts per operating hour at 82.2% availability for December to date. Work continues on finalizing a long term loan which is now anticipated to close in January.
Raft River, Idaho: Operated continuously through the quarter with 99.5% operating availability and has averaged 9.61 megawatts per operating hour. The plant achieved 100% operating availability for both October and November. Due to warmer than normal fall and winter temperatures, power generation this year has been less than average.
HTM is trading at $0.44 in a 52-week range of $0.26 - $0.71. Shares have increased 8% in the last 12 months.
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