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U.S. Geothermal (OTCBB: UGTH | news | PowerRating | PR Charts ) closed down 2.67 percent on Tuesday with a volume over 330,000.
On Tuesday, March 11th, 2008, U.S. Geothermal Inc., a renewable energy company focused on the production of electricity from geothermal energy, announced that Eugene Water and Electric Board ("EWEB"), of Eugene Oregon, has signed a power purchase agreement ("PPA") for the planned Unit Two power plant at Raft River. The PPA allows for variable electrical output up to a maximum of 16 megawatts with a term of 25 years. The PPA is subject to successful drilling and resource development at Raft River. Under the terms of a related agreement entered into by U.S. Geothermal, EWEB and the Bonneville Power Administration ("BPA"), the power generated from Unit Two at Raft River will be delivered to BPA's customer load in Idaho. The same amount of power will be made available by BPA to serve EWEB's load.
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