Raser Technologies (RZ) has entered into a term sheet with Southern California Public Power Authority to provide 110 MW of geothermal power to some SCPPA municipalities.  The SCPPA would pay an up front cost, then additional monthly payments to Raser at a reduced cost. A term sheet isn’t a contract and non binding, so either party may end discussions at any time.  Financials have not been disclosed either, so this isn’t news that has any teeth to it.  I’ll have to research this a bit more. 

Richard Clayton, Executive VP, said, “We are excited to have signed this term sheet and be nearing completion of negotiations for this significant power purchase agreement with SCPPA. We have had productive discussions with SCPPA to date and hope to finalize the PPA in the near future.”

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