Canada's Razor Energy Corp. is now operating a geothermal power project in Swan Hills, Alberta. The Project combines an Organic Rankine Cycle (ORC) turbine, which captures geothermal heat from the production fluid, and a Natural Gas Turbine (NGT). The turbines have grid interconnections which enable direct sales of electricity to the Alberta electricity grid at merchant power prices. The final construction cost of the Project was an estimated $36 million.

The Alberta Investment Management Corporation is Razor's largest shareholder and prime lender since the company's inception in 2017.

“Alberta has long championed the geothermal industry. It is exciting to watch an idea for a pilot project grow into an industry-scale, commercial operation,” Justin Riemer, CEO of Emissions Reduction Alberta. “This made-in-Alberta solution ushers in a new era of clean energy that will spur an entirely new industry in the province that taps into our existing oil and gas resources and expertise."

Alberta, Canada's large, minerals-rich western province, is well-known as an oil producer. The province currently generates only 10% of its electricity from renewable sources.

At the Swan Hills project, Razor produces and injects large volumes of hot production fluids from existin fossil-fuel operations, to carry heat as a renewable form of geothermal energy on daily basis as part of its ongoing conventional oil and gas operations and waterflood activities.

This hot fluid enables the capture of geothermal heat energy and generates power with zero greenhouse gas emissions. It is a “co-production” facility, meaning no new surface land footprint is required as the Project utilizes existing assets such as processing infrastructure, producing wells, produced water reinjection system and an operating gathering and distribution system.