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US Geothermal concludes strategic review, to continue growth plan

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US Geothermal concludes strategic review, to continue growth plan

U.S.Geothermal Inc. has concluded a strategic review of the business and decided to continueits growth plan.

"After careful consideration of a number ofalternatives, we determined that our best course of action is to focus on thecompany's plans to expand its existing operating projects, advance itsdevelopment projects, and pursue certain acquisition opportunities," saidJohn Walker, chairman of the special committee of the board, in a March 30statement.

The company is advancing the Raft River resource and theNeal Hot Springs project which could add up to 3 MW of generation at each ofthe assets. U.S. Geothermal also has four advanced development projectstotaling 90 MW of planned generation.

The company also owns a portfolio of early stage developmentprojects and is currently evaluating a number of strategic acquisitions. Thecompany recently acquired three new, uninstalled binary power plants andincreased its ownership in the Raft River project to 95%; it also receivedapproval for the transmission-interconnection agreement from CAISO for its WGPGeysers power project.