US Geothermal gets funding for Neal Hot Springs power project
Renewable energy company US Geothermal has received the first funding drawdown under the US Department of Energy's (DOE's) $96.8m loan guarantee to build a 23MW power plant at Neal Hot Springs in eastern Oregon, US.
The Neal Hot Springs development project completed the closing of the loan guarantee in February 2011 under DOE's Title XVII loan guarantee program, which was created to support the deployment of clean energy technologies.
According to the company, the $96.8m DOE loan guarantee represents 75% of the $130m total project cost.
US Geothermal is focused on the development, production and sale of electricity from geothermal energy.
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