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Raser Technologies Orders 110 More UTC Power Geothermal Systems
South Windsor CT (SPX) Apr 14, 2008 UTC Power and Raser Technologies have announced UTC Power will provide 110 PureCycle geothermal power systems to Raser in addition to 90 ordered last year. In total, these 200 systems will have the capability to generate approximately 40 to 45 megawatts (MW) per hour of renewable electrical power. The agreement provides for downpayments by Raser or its associated project entities to UTC Power. Other financial terms of the transaction were not disclosed. Raser began taking delivery of the UTC Power systems ordered last year in the fourth quarter of 2007 and all 200 units will be delivered by the end of this year. UTC Power also will maintain these units. The geothermal power plants are expected to qualify for Renewable Energy Credits and are also anticipated to be placed in service in time to qualify for Production Tax Credits and other tax benefits provided under the Internal Revenue Code. "The existing federal Production Tax Credit for geothermal energy resources created a valuable incentive for the purchase and deployment of these units during this calendar year," said UTC Power President Jan van Dokkum. UTC Power and Raser Technologies both support legislation that would provide a long-term extension of the Production Tax Credit to increase use of a clean, renewable energy resource that provides power on a continuous 24/7 basis. "Accelerated development of domestic geothermal resources will produce electricity in an environmentally friendly way and contribute to U.S. energy independence," said Brent M. Cook, chief executive officer of Raser. "We are delighted to be associated with a company like UTC Power with its unique capabilities to help us meet our rapid deployment goals." Community Email This Article Comment On This Article Related Links Raser
Labor And Environmentalists Join Forces To Launch National Green Jobs For America Campaign
Pittsburgh PA (SPX) Apr 14, 2008The United Steelworkers (USW), the Sierra Club, the Natural Resources Defense Council (NRDC) and the Blue Green Alliance, a partnership of the USW and Sierra Club, have launched the national Green Jobs for America campaign. The campaign will focus on the ability of a serious commitment to clean, renewable energy to make us more energy independent, help us end our dangerous dependence on fossil fuels and create over 820,000 new green jobs nationwide. |
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