U.S. Geothermal Gains on Earth Power Resources Acquisition

Oct. 16 (Bloomberg) — U.S. Geothermal Inc. gained the most

in more than four months after the Boise, Idaho-based renewable-energy developer said it will acquire privately owned Earth

Power Resources.

U.S. Geothermal climbed 12 percent to 52 cents at the close

in New York, the most since May 29.

The company is exchanging 692,769 shares for all

outstanding shares of Tulsa, Oklahoma-based EPR, which will have

no debt or obligations when the deal closes, according to a

statement today. Shareholders are expected to approve the

acquisition by the end of November, U.S. Geothermal said.

U.S. Geothermal is gaining EPR’s project database and

geothermal leases that cover more than 26,000 acres in Nevada.

The deal includes three projects with total capacity ranging

from 158 megawatts to 359 megawatts.

To contact the reporter on this story:

Justin Doom in New York at

jdoom1@bloomberg.net

To contact the editors responsible for this story:

Reed Landberg at

landberg@bloomberg.net

Robin Saponar, Jim Efstathiou Jr.

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