Raser announced in April 2007 that it will initiate the development of approximately 100MW per year over the following three years and then ramp up to 150MW per year for each year thereafter.
The two additional projects announced include a second 10MW plant in Utah and the company’s first 10MW plant in Oregon. The company’s projects under development now include three projects in Nevada, two in Utah, one in New Mexico and one in Oregon.
Raser has been notified by another southern California utility as being selected for a 10MW power purchase agreement for delivery of power in 2009. Being selected in the proposal bid process allows power generators to enter into contract negotiations to finalize terms and conditions with the requesting utility.
Raser is in various stages of negotiations with several utilities with respect to agreements to purchase a total of 140MW of power. Raser expects to complete these negotiations in 2008.
