UTC Power will also be responsible for the maintenance of the units under the terms of the agreement. Brent M Cook CEO of Raser was quoted as saying : “We believe these types of renewable energy-producing power plants will be a significant part of the U.S. power production portfolio in the future,” and “Accelerated development of domestic geothermal resources will produce electricity in an environmentally friendly way and contribute to energy independence. We are delighted to be associated with UTC Power, whose entry into geothermal power generation is a significant step in our nation’s push toward energy independence.”
Jan van Dokkum president of UTC had this to say; “The PureCycle system will make it possible to tap into a significant new domestic renewable energy resource because it operates at previously unusable low temperatures -- from 165 to 300 degrees Fahrenheit. These units will provide renewable power around the clock from a ‘free’ fuel source. The PureCycle system is an important addition to UTC Power’s environmentally responsible product offerings and we look forward to working with Raser in aggressively deploying and advancing this technology.”
The first three plants which are expected to generate only 10 MW are also expected to qualify for Renewable Energy Credits and Production Tax Credits from the IRS under the Internal Revenue Code. Raser has invested in substantial amounts of property in Nevada which has recently passed measures to increase renewable energy production, something the company should be pleased to see and take advantage of. Raser also paid close attention to make sure these were close to transmission lines thereby assuring that costs for connecting to existing infrastructure are kept low. Nevada is known for being home to one of the most famous sources of renewable energy Hoover Dam, which has been meeting Las Vegas’ power needs since the depression.
For additional information:
http://www.rasertech.com
