 | ||
 | | |
March 7, 2008 – Vol. 12 No. 50 Raser Adds Two New Geothermal Projects. The two additional projects include a second 10 MW plant in Utah and the company’s first 10 MW plant in Oregon. This brings Raser’s total projects under development to seven, representing 70-75 megawatts (MW) of power projects initiated since April, 2007. The company plans the development of approximately 100 MW per year over the following three years and then ramp up to 150 MW per year for each year thereafter. Under development now are three projects in Nevada, two in Utah, one in New Mexico and one in Oregon. In Oregon Raser currently has 970 acres under geothermal lease agreements in addition to the 73,000 acres of International Paper property on which Raser holds an exclusive geothermal option in the state. In connection with its development of geothermal power plants, Raser also announced today the delivery of the first seven UTC Pure Cycle (R) units to Utah. Each 10 MW power plant will require 45 to 50 of these binary cycle units to generate green renewable electricity. Under its agreement with UTC, Raser has begun to take delivery of the first units.
“We are pleased with the progress that we are making on several fronts of our geothermal power program,” stated Brent M. Cook, Raser’s CEO. “Our rapid deployment strategy is gaining momentum as we progress with well field developments, receive power plant units from UTC and finalize PPA discussions with a number of utilities. The two additional projects we announced today embody the great work that our geothermal team is accomplishing behind the scenes.” Raser is a technology licensing and development company operating in two business segments: Raser’s Power Systems segment is seeking to develop clean, renewable geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser’s Symetron (tm) technology developed internally by its Transportation and Industrial Technology segment. Raser’s Transportation and Industrial Technology segment focuses on using Raser’s Symetron (tm) technology to improve the efficiency of electric motors and other applications. (3/5/08)
Links: Raser Technologies UTC Power
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
| Front Page | Events | Archives / Resources | Publications | About / Contact | Subscriptions / RSS | Products / Services | Requests for Proposals / Funding Opportunities | Copyright 1996 - 2008 Green Energy News Inc | ||
| | |
