ThinkGeoEnergy – Geothermal News & Insights

U.S. Geothermal releases initial operational updates for 2016

U.S. Geothermal reports average availability of its geothermal plants in the U.S. at more than 95% in 2016 with a net adjusted income for 2016 of $4-8 million, with full financial results to be released in March 2017.

Geothermal development and operating company, U.S. Geothermal Inc. releases initial results for 2016 and guidance for the full year 2017. Audited financial statements and Form 10-K for the fiscal year ended December 31, 2016 are anticipated to be released in mid-March.

“We are very pleased with the exceptionally strong performance from all of our power plants during the fourth quarter and our overall operational execution in 2016, despite some setbacks earlier in the year”, said Dennis Gilles, Chief Executive Officer. “We continue to maintain the focus on our goal to add approximately 135 MW by 2021 through the continued development of our existing projects, advancements of our near-term development projects and growth through several acquisition opportunities.”

For now the company provides a guidance for 2016 with an expected adjusted net income of between $4 million and $8 million (it expects the same for 2017), at total plant operating revenue of $29-34 million for 2016 and $30-34 million for 2017.

The company provides further the following highlights and achievements for 2016:

Operations:

Strategic:

 

Source: Company release via Yahoo

Alexander Richter
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