For awhile there, Raser was releasing a new press release every couple of days for the most minor of events. But now, it’s clear that Raser has entered the geothermal development business in a very serious way and has had some significant steps in transforming into a geothermal power producer. Recently, Raser CEO Brent Cook granted an interview to The Street in which he reiterated the company’s grand plans and vision including announcing 100MW of projects per year (not necessarily finishing) for the first few years, and 150MW per year thereafter in 10MW increments.

This comes on the heels of the news that the company has completed its first well in Utah where a 127C (260F) resource was apparently hit in the Escalante desert region. Their drilling program is proceeding even as the resource is being evaluated for commercial applicability. Coupled with their promise of 155MW worth of funding, this breakthrough puts Raser closer to operation than ever before and moves them into the column of serious developer.

This entry was posted on Tuesday, March 4th, 2008 at 1:08 pm and is filed under Geothermal.