If Raser Technologies does not secure adequate funding for well field development within the next few months, it will have to adjust this plan. The company has updated its approach to now use larger binary cycle generators, along with the smaller units currently in operation at its first power plant, the Thermo No. 1 Plant (Hatch Plant). Raser Technologies expects to use anywhere from two to eight of the larger generators per plant, in some cases coupled with smaller units as Raser deems appropriate. The company’s current geothermal power plant uses 50 smaller generators. Raser Technologies projects each power plant will provide up to 20 MW of electricity available for sale to the utilities compared to 10 MW of electricity, which will be the total for sale from its’s first power plant, once at full capacity.
“These changes should improve the overall economics of our power plants moving forward,” Raser Technologies Principal Executive Officer Richard Clayton said. “Throughout Raser’s development planning, we had intended to utilize larger generating units as they became available. Our current supplier has made significant advances in making larger units available. We are also reviewing similar equipment from other manufacturers.”
The updated business plan is anticipated to improve the projected average plant economics.
