"This
is
a
major
milestone
for
our
company,
the
San
Emidio
project
and
the
geothermal
industry,”
says
US
Geothermal
chief
executive
Daniel
Kunz.
NV
Energy,
the
largest
electric
utility
in
Nevada,
will
pay
$89.75/MWh
subject
to
a
1%
annual
escalator,
under
terms
of
a
25-year
power
purchase
agreement.
The
power
plant
is
projected
to
average
71,500/MWHs
of
electricity
output
each
year.
The
facility
replaces
an
older
unit
that
generated
23,000
MWH
annually.
Subsidiary
USG
Nevada
LLC
expects
to
now
file
for
a
US
Treasury
Section
1603
cash
grant
of
$11m
for
the
project.…
