Eight Geothermal
Projects in Development
See
photo gallery
Raser has
200,000+
acres of geothermal
interests.
-
3 Nevada
Projects: In the Big Smokey
Valley of Southern Nevada
-
3 Utah Projects: In the
Escalante Sevier desert area of
Southwestern Utah
-
1 New Mexico Project: Lightning
Dock project is located in
Southwestern New Mexico and is
one of the most studied
geothermal resources in the
United States
-
1 Oregon Project: Located in the
South-Central Oregon in Klamath
Lake area.
 
Construction of Thermo cooling
pump basin in progress.
Progress
Report
-
Raser
signed a strategic
initiative with UTC Power
Corporation, a United
Technologies company,
providing preferential
pricing and access to binary
cycle geothermal power
equipment for our first four
power plants we intend to
develop. We have begun to
take delivery of these units
and are confident that UTC
will continue to have the
resources and capacities
necessary to meet our
aggressive project
timelines.
-
Raser
entered into our first power
purchase agreements (PPA)
for 2 projects totaling 22
MW of power to be delivered
into California. We have
four other PPAs totaling 40
MW in the final stages of
approval and 80 MW under
negotiation with utilities
and municipalities for the
purchase of our geothermal
power that we plan to have
online in 2008 and 2009.
-
Raser
entered into a funding
letter of commitment with
Merrill Lynch which sets
forth the general terms to
provide non-recourse project
level debt financing for the
construction of the
geothermal power plants and
additional funding for the
tax benefits that each one
of these plants can provide.
The commitment is for up to
155 MW of Raser’s geothermal
power plants potentially
amounting to more than $500
million.
-
Raser
broke ground and began
drilling production wells on
two of our projects.
Preliminary readings of the
wells indicate the existence
of geothermal resources with
water temperatures in the
range required for binary
cycle geothermal power. With
our recent private placement
of convertible debt, we now
have funding to become more
aggressive on our well field
development. The well field
development for a 10 MW
plant generally consists of
drilling two to three
production wells and
additional re-injection
wells. Some of our projects
have existing wells that can
be used for either
production or re-injection
which reduces our time and
effort to prepare the site
for the construction of the
power plants.
These photos show Raser’s 8
geothermal projects currently
under development in Oregon,
Nevada, Utah and New Mexico.
This computer rendering shows
the completed
Thermo geothermal power plant.
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