Geothermal

Raser Orders 110 UTC Geothermal Systems

UTC Power and Raser Technologies have announced that UTC Power will provide 110 of its 225-kilowatt (kW) PureCycle geothermal systems to Raser. This order is in addition to 90 units that Raser ordered last year.

The agreement provides for downpayments by Raser or its associated project entities to UTC Power. Other financial terms of the transaction were not disclosed. Raser began taking delivery of the UTC Power systems ordered last year in the fourth quarter of 2007 and all 200 units will be delivered by the end of this year. UTC Power will also maintain the units.

“The existing federal Production Tax Credit for geothermal energy resources created a valuable incentive for the purchase and deployment of these units during this calendar year,” said UTC Power President Jan van Dokkum.