Geothermal lease sales strong

RENO -- Federal land managers sold a record $28.2 million in geothermal leases in eight Northern Nevada counties this week, including one parcel where the rights to produce energy from hot water and steam beneath the earth sold for $1,000 per acre.

The Reno-based ENEL Geothermal paid the U.S. Bureau of Land Management more than $2.7 million for the 2,707-acre parcel in Churchill County -- one of 35 parcels totaling 105,312 acres of public lands made available under the 10-year leases.

Last August, when the BLM sold $11.7 million worth of geothermal leases in Nevada, the highest bid was $520 per acre.

As of early this year, Nevada had 40 geothermal projects in development -- more than any other state.

The most expensive single parcel sold this week went to Standard Steam Trust of Denver for $3.2 million.

Three parcels in Churchill County, consolidated and offered as a block, sold for $585 per acre, bringing in $6.9 million from Magma Energy US Corp. of Reno.