October 25, 2014
RENO, Nev. (AP) - The Bureau of Land Management says it generated $29,000 in a competitive sale of geothermal leases in northern Nevada.
Sold in Reno on Tuesday were two parcels in Churchill County, two in Humboldt County and one in Pershing County. The parcels comprise over 7,000 acres in all.
Ormat Nevada Inc. acquired four of the parcels and Colorado-based Presco Energy LLC acquired the other.
The high bid on each of the five parcels was $2 per acre.
Geothermal leases are issued for a 10-year primary term. Annual rental for a competitive lease is $2 per acre for the first year, and $3 per acre annually after that.
Additional environmental analysis is needed to receive permits to drill or build a geothermal facility.
The BLM offered seven parcels totaling 10,000 acres.
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