Geothermal Auction Receives Bids for 19,000 Acres in Nevada

Geothermal Auction Receives Bids for 19,000 Acres in Nevada

geothermal

The U.S. Bureau of Land Management (BLM) in late October said that it received bids on geothermal leases in Nevada for about $78,000 in an online auction.

Geothermal developer Ormat Technologies won a 5,078-acre parcel in Esmerelda County, Nev., paying about $20,000.

Speaking during a Nov. 8 earnings conference call, Ormat CEO Isaac Angel said that the company won parcels in the BLM auction that increase existing projects and acreages and provide lands for new projects.

BLM said that 20 parcels covering about 38,000 acres were offered during the lease sale. Ten bids were submitted covering about 19,000 acres.

The leases are for an initial 10-year period with 50 percent of the funds disbursed to the state, 25 percent disbursed to the county the lease is located in and 25 percent to the U.S. Department of the Treasury.

BLM said that the next geothermal lease sale for Nevada is scheduled for October 2018.

Lead image: Esmerelda County, Nev. Credit: Famartin (Own work) | CC BY-SA 4.0 | Wikimedia Commons

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