Posts Tagged ‘Project’
Energy Secretary Steven Chu recently announced that the U.S. Department of Energy (DOE) finalized a $ 96.8 million Recovery Act supported loan guarantee for U.S. Geothermal, Inc. to construct a 23 megawatt (net) geothermal power project in Malheur County, in southeastern Oregon.
The company estimates that the project, known as Neal Hot Springs, will create approximately 150 construction jobs, more than a dozen permanent jobs and even more supply chain jobs across several states, including Texas, California and Ohio.
“Increasing the supply of renewable energy through projects like U.S. Geothermal’s will help us reach the President’s goal of generating 80 percent of our electricity from clean energy by 2035,” said Secretary Chu. “The Neal Hot Springs project will provide clean renewable energy directly from our nation’s vast natural resources, while simultaneously creating jobs and helping to promote energy independence.”
The project uses an improved technology to extract energy from rock and fluids in the Earth’s crust more efficiently. The technology, referred to as a supercritical binary geothermal cycle, is estimated to be more efficient than traditional geothermal binary systems, allowing lower-temperature geothermal resources to be used for power generation. Unlike coal-fired and natural gas-fired power generation plants, geothermal plants produce virtually no greenhouse gas emissions.
The company anticipates about 95 percent of the power plant’s infrastructure and parts will be supplied by U.S.-based manufacturers. In addition, the project’s total output will be sold to Idaho Power Company under a long-term power purchase agreement. With the 25-year agreement in place, the project is well positioned to accommodate anticipated population growth and renewable energy demand in the region.
To learn more about DOE loan guarantees, visit the DOE Loan Program Office website.
Photo courtesy: U.S. Geothermal, Inc. According to the company, drilling during the late 1970s resulted in a discovery of a commercial geothermal resource at a depth of 2,820 feet.