Provo, Utah [RenewableEnergyAccess.com] Raser Technologies, Inc. has secured additional geothermal rights in Utah — under the terms of five lease agreements — on 9,370 acres located in two counties in Southern Utah.
The lease terms are up to ten years and are renewable for additional periods based on development activity or upon the payment of minimum rental payments. The financial terms of the leases are not disclosed. These leases bring the total land Raser has under lease in Utah alone for geothermal development to over 37,000 acres.
“We have established what we believe to be one of the most attractive undeveloped geothermal resource portfolios in the U.S.,” said Brent M. Cook, Raser’s CEO, “and we plan to continue expanding our portfolio as we identify new, attractive properties to ensure that we have the geothermal resources sufficient to meet our goals in the development of renewable power plants.”