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November 21, 2011
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Gerlach geothermal plant wins financing

Nailing down a private bridge loan last week allows U.S. Geothermal to complete the first phase of its San Emidio geothermal plant near Gerlach without having to tap into equity markets to finance construction, says Saf Dhillon, manager of investor relations.

Boise-based U.S. Geothermal secured a $9 million bridge loan from Ares Capital Corporation of New York. U.S. Geothermal is expected wrap up construction and bring the 8.6-megawatt San Emidio project online in December, Dhillon says.

Approximately 30 percent of the total $30 million construction costs are funded under a grant by the Department of Energy, Dhillon says. That money …

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Northern Nevada Business Weekly Updated Nov 21, 2011 12:00AM Published Nov 21, 2011 12:00AM Copyright 2011 Northern Nevada Business Weekly. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.