Renewable energy firm US Geothermal will construct the 23MW (net) power project, known as Neal Hot Springs, in Malheur County.
According to the company, Neal Hot Springs is the first geothermal project to complete a loan guarantee under DOE’s Title XVII loan guarantee program.
DOE secretary Steven Chu said that increasing the supply of renewable energy through projects like US Geothermal’s will help the nation reach its goal of generating 80% of its electricity from clean energy by 2035.
"The Neal Hot Springs project will provide clean renewable energy directly from our nation’s vast natural resources while simultaneously creating jobs and helping to promote energy independence," Chu said.
DOE, through the Loan Programs Office, has issued loan guarantees or offered conditional commitments for loan guarantees totaling nearly $18bn to support 19 clean energy projects.
