US Geothermal buys equipment for projects totalling 35 MW

US Geothermal Inc (NYSEMKT:HTM) said on Monday it has purchased three equipment packages for geothermal power plants totalling 35 MW at a price that is about 5% of the original cost.

The renewable energy firm has bought unused equipment from another geothermal developer and by doing so saved about USD 28 million (EUR 26.1m), said CEO Dennis Gilles. "Since we already operate this same equipment at two of our projects, it will fit in perfectly with our existing operations," Gilles added.

The purchased packages include some 70% of the components needed for the complete plants. They will meet the major and long lead equipment requirements for the 25-MW Crescent Valley I and 10-MW San Emidio II facilities.

US Geothermal noted it plans to expand its portfolio by developing an additional 95 MW over the next three years.

(USD 1.0 = EUR 0.932)

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