{"id":332089,"date":"2010-02-17T13:34:58","date_gmt":"2010-02-17T18:34:58","guid":{"rendered":"http:\/\/greenenergyreporter.com\/?p=6375"},"modified":"2010-02-17T13:34:58","modified_gmt":"2010-02-17T18:34:58","slug":"utah-geothermal-developer-to-launch-construction-of-15-mw-power-plant","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/332089","title":{"rendered":"Utah Geothermal Developer To Launch Construction of 15 MW Power Plant"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/funding.png\" width=\"8\" height=\"8\" alt=\"\" title=\"Funding\" \/><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/geothermal.png\" width=\"8\" height=\"8\" alt=\"\" title=\"Geothermal\" \/><\/p>\n<p>Provo, Utah-based\u00a0 Raser Technologies tells GER\u00a0that it\u2019s planning to start construction on its $80 million, 15-megawatt Lightning Dock project in New Mexico in the next couple of months.   <span id=\"more-6375\"><\/span><\/p>\n<p>The facility, which is slated to start operating in 2011, is backed <a href=\"http:\/\/www.rasertech.com\/geothermal\/geothermal-news\/raser-technologies-provides-update-on-its-geothermal-activities-and-its-phev-project\" >by a 20-year power purchase agreement <\/a>with the Salt River Project Agricultural Improvement and Power District (SRP), a utility district in neighboring Arizona.<\/p>\n<p><a href=\"http:\/\/www.rasertech.com\/news\/press-releases\/raser-technologies-and-evergreen-clean-energy-announce-agreement-to-structure-and-finance-the-drilling-of-up-to-100-mw-of-geothermal-power\" >In December Raser secured<\/a> drilling capital for Lighting Dock and other projects from Evergreen Clean Energy, a newly-formed Utah-based investment fund.<\/p>\n<p>The Evergreen deal provides Raser development capital for a 100-megawatt project pipeline, which includes the Lightning Dock.<\/p>\n<p>EverGreen could invest up to $30 million in Lightning Dock. That amount includes drilling costs of about $5 million. In exchange the\u00a0investment fund gets an equity interest of up to 50 percent in the project and any other projects it ends up financing. It&#8217;s also planning to apply for a government cash grant to fund part of the project,\u00a0 the Raser executive tells GER.<\/p>\n<p>Also, earlier today, Raser <a href=\"http:\/\/www.marketwatch.com\/story\/raser-receives-approval-for-3299-million-us-treasury-grant-2010-02-17?reflink=MW_news_stmp\" >posted a release<\/a> announcing that it had scored a $32.9 million U.S. Treasury direct cash grant for its five megawatts Thermo Number 1,\u00a0project located in Southern Utah&#8217;s Beaver County.\u00a0 The grant comes in lieu of the $25 million production tax credit Raser had secured back in June of 2008\u00a0from Merrill Lynch.<\/p>\n<p>Merrill (now Bank of America Merrill Lynch), hammered by the financial crisis, walked away from that project. Raser says it&#8217;s in talks with other potential tax equity partners\u00a0to invest between $15 &#8211; to &#8211; $20 million in Thermo Number 1.\u00a0 A Raser executive declined to name potential tax equity partners.<\/p>\n<p>Thermo Number 1 generates 5 megawatts of power but plans are to double that capacity. The facility sells its output to as part of a 20-year PPA to the City of Anaheim, Calif.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/GreenEnergyReporter\/~4\/Lqeg4myLRLs\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Provo, Utah-based\u00a0 Raser Technologies tells GER\u00a0that it\u2019s planning to start construction on its $80 million, 15-megawatt Lightning Dock project in New Mexico in the next couple of months. The facility, which is slated to start operating in 2011, is backed by a 20-year power purchase agreement with the Salt River Project Agricultural Improvement and Power [&hellip;]<\/p>\n","protected":false},"author":2814,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-332089","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/332089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/2814"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=332089"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/332089\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=332089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=332089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=332089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}