U.S. Geothermal Inc. of Boise has a partner to operate its Neal Hot Springs Geothermal Plant near Vale, Ore.
U.S. Geothermal had developed and operated the plant, which is about 75 miles northwest of Boise. U.S. Geothermal also operates geothermal power projects in Raft Rover and San Emidio, Nev., and is developing a geothermal project near Guatemala City in Guatemala.
U.S. Geothermal sold 40 percent of the Neal Hot Springs Geothermal Plant to Enbridge, a Canadian company specializing in delivering alternative energy.
U.S. Geothermal received $6.2 million in the agreement, according to a release. U.S. Geothermal has invested $14 million in the development and construction of the plant.
"Our strategic partnership with Enbridge has proved beneficial for both parties, allowing for the successful construction and operation of the Neal Hot Springs geothermal project," said Dennis Gilles, CEO of U.S. Geothermal. "We look forward to a long and successful partnership with Enbridge on this and potentially other geothermal projects in our portfolio of quality geothermal resources."
Enbridge has invested more than $3 billion in a variety of green power projects, including wind, solar and waste heat recovery, according to the release. Partnering on the Neal Hot Springs project allowed Enbridge to enter the geothermal market.