ARKANSAS, Nov 18 (Future Headlines)- The Bureau of Land Management (BLM) in Nevada achieved a significant milestone in advancing geothermal energy with a competitive lease sale held on November 14, 2023. The event attracted 13 registered bidders, resulting in successful bids for 33 out of 46 parcels available. The total revenue generated from the auction reached an impressive $1,025,396, underlining the growing interest in geothermal development in the region.
Several prominent entities secured parcels in this competitive auction, reflecting the diverse participation in advancing geothermal energy. The successful bidders and the number of parcels they acquired are as follows:
PHOTOSOL US LLC: 5 parcels
Norte Geothermal LLC: 4 parcels
Zanskar Geothermal & Minerals LLC: 6 parcels
TLS Geothermics Corp.: 8 parcels
Ormat Technologies: 5 parcels
FLHN 1 LLC: 3 parcels
Rodatherm Energy Corporation: 1 parcel
Baseload Power U.S.: 1 parcel
One particular standout bid was made by Ormat Technologies for parcel NV-2023-11-1968, which commanded the highest bid per acre at $130 and a total bid amount of $324,220. Geothermal leases typically span an initial 10-year period, and the funds generated from these leases are allocated as follows: 50 percent to the state, 25 percent to the respective county, and the remaining 25 percent to the U.S. Department of the Treasury.
The BLM, responsible for managing public lands, facilitates sustainable energy development, including geothermal projects. The leased parcels undergo a comprehensive environmental analysis, involving multiple stages of public participation, such as scoping, public comment, and protest periods. Additionally, each lease issued comes with standard stipulations designed to protect endangered species and cultural resources, ensuring that development adheres to safety and environmental responsibility standards. Following the leasing process, lessees must submit site-specific proposals, subject to in-depth analysis, before initiating energy development activities.
The success of this geothermal lease sale in Nevada marks a positive step forward in harnessing the potential of geothermal energy, contributing to the diversification of the region’s energy portfolio and supporting sustainable development practices.
Reporting by Kevin Wood; Editing by Sarah White