Jul 19 2010
U.S. Geothermal, a renewable energy company, has announced the selection of TAS Energy Inc. for the purpose of providing efficient and modular clean energy power plant technology for the construction of a geothermal power plant in Neal Hot Springs in Eastern Oregon.
U.S. Geothermal has received a provisional assurance from the U.S. Department of Energy ("DOE") for $102.2-million loan guarantee Title XVII loan guarantee program that was instituted by the Energy Policy Act of 2005 to support the initiatives for innovative clean energy technologies for the construction of a 22-MW-net power plant at Neal Hot Springs. Incidentally this geothermal project is an archetype that received a conditional commitment for loan guarantee.
Daniel Kunz, who leads U.S. Geothermal as its President and Chief Executive Officer, explained how the conditional commitment allows the company to avail low cost capital and called it a major achievement and thanked the DOE for the critical vote and was optimistic about the timely completion of Neal Hot Springs geothermal project. He expressed his interest for more such growth opportunities to produce clean green electric power.
U.S. Geothermal has selected TAS for the advantages it offered over other binary plants in utilizing non-flammable working fluids that helps in reducing the environmental hazard.
Earlier TAS has delivered modular designs for the construction of an Organic Rankine cycle plant and the proposed Neal Hot Springs facility is expected to deploy three pre fabricated modular TAS power plants for reduced risk during on site construction which is capable of providing individual power functions thus maximizing the project capital efficiency while allowing increased power production on further development of geothermal resources.
Tom Pierson, founder and Chief Technology Officer of TAS said the proposed Neal Hot Springs project will generate more quality construction jobs and more than 95% of the project materials are expected to be manufactured indigenously.