Geothermal

Raser Receives Generation Units for New Mexico Geothermal Project

Raser Technologies Inc. announced that it has begun taking delivery of the UTC Power geothermal power generating units ordered for the first commercial scale geothermal power plant to be built in the state of New Mexico. The New Mexico site is a well-studied, known geothermal resource that has provided direct use geothermal fluids to a local greenhouse operation for many years.

Recent flow tests of a previously drilled well at the site indicate temperatures of 308°F. Raser’s geothermal plant is planned to have a generation capacity of approximately 14 megawatts (MW) using UTC’s units. Raser recently announced that it had entered into a power purchase agreement (PPA) with the Salt River Project Agricultural Improvement and Power District (SRP) to start delivering up to 10 MW from the plant by December 2008.

“Geothermal power from the UTC binary closed loop plants provides a reliable base load energy resource to utilities with zero emissions and the least intrusive impact to the environment. Raser has long stated its belief in the need for more, clean, non-polluting electricity. We are especially pleased to develop the first commercial geothermal power plant in the state of New Mexico on this promising resource,” said Richard Clayton, Raser’s executive vice president.