If approved, the loan will cover 80% of the projected $106mn total capital cost of the binary cycle power plant and related infrastructure, the company says.
US Geothermal hopes to have the plant, which is designed to deliver 22MW of power to the electrical grid, on line in late 2011.
The DOE loan is anticipated to be a combined construction and long term loan and provide the project with a low cost annual interest rate, according to Daniel Kunz, chief executive of US Geothermal.
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