Raser Technologies Inc. said Thursday it has reached a power purchase agreement with the Salt River Project Agricultural Improvement and Power District, a utility district serving the Phoenix area from a Raser power plant in New Mexico.
The agreement calls for Provo-based Raser to deliver about 10 megawatts enough to power about 5,500 homes to the Phoenix area for 20 years from the Lightning Dock geothermal power plant. Delivery is expected to begin by Dec. 15. The district serves more than 935,000 customers in the Phoenix area.
Raser has 32 megawatts of signed contracts, with 110 megawatts more in various stages of approval and negotiation with utilities and municipalities. Raser also has about 85 megawatts of geothermal projects under development.