U.S. Geothermal (NYSE MKT: HTM) is a renewable energy company on a mission to become the largest pure play independent geothermal power producer, targeting 135 MW by 2021 and a market cap in excess of $1 billion. With the U.S. market demand for electricity rising and creating a growing dependency on non-renewable, non-sustainable resources, U.S. Geothermal plans to accomplish this goal by remaining focused on the development, production and sale of electricity from geothermal energy. The company has confirmed its 2016 guidance for adjusted earnings of $4 million-$8 million on revenues between $29 million-$34 million; for FY17, U.S. Geothermal said it expects adjusted net income of $4 million-$8 million on revenues of $30 million-$34 million. “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. We continue to maintain the focus on our goal to add approximately 135 megawatts by 2021 through the continued development of our existing projects, advancements of our near-term development projects and growth through several acquisition opportunities,” company CEO Dennis Gilles stated in the news release.
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About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a leading and profitable renewable energy company focused on the development, production and sale of electricity from geothermal energy. The company is currently operating geothermal power projects at Neal Hot Springs, Oregon, San Emidio, Nevada and Raft River, Idaho for a total power generation of approximately 45 MWs. The company is also developing an additional 90 MWs of projects at: the Geysers, California; a second phase project at San Emidio, Nevada; at Crescent Valley, Nevada; and the El Ceibillo project located near Guatemala City, Guatemala. U.S. Geothermal’s growth strategy is to reach 200 MWs of generation by 2021 through a combination of internal development and strategic acquisitions.
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