BLM geothermal lease sale nets $500,000 | NevadaAppeal.com

BLM geothermal lease sale nets $500,000

RENO (AP) – The federal Bureau of Land Management says it netted more than $500,000 in total revenue from this year’s statewide geothermal lease sale in Nevada.

BLM officials said Friday that 17 parcels totaling 42,627 acres were sold for geothermal development during an auction Tuesday in Reno, and generated $456,353 in revenue.

Ormat Nevada Inc. of Reno placed the high bid of $253,580, or $60 an acre, for a 4,227-acre parcel in Churchill County parcel.

Officials say another 12 parcels totaling 44,842 acres received non-competitive offers on Wednesday that generated $44,843 in revenue.

Another 22 parcels totaling 63,648 acres will remain available for non-competitive lease offers for two years.

In all, the sale offered 51 parcels in Nevada totaling more than 151,000 acres.

Geothermal leases are for a 10-year period.