The Bureau of Land Management (BLM) has completed its latest geothermal lease sale, this time in California — with successful bids covering the various counties of Modoc, Sonoma, Lake, Mono and Inyo.
In a statement, it reported that it accepted winning bids on 16 parcels in the state, totalling 33,362 acres of land for about US$3.7mn.
The six successful bidders include: Coda Intermediate Holdings (five leases); TLS Geothermics Corp (four leases); Oso Rojo LLC (three leases); Chocolate Mountain Resources (two leases); Zanskar Geothermal & Minerals Inc (one lease) and Cordillera LLC (one lease).
It follows the recent closure of geothermal lease sales in Nevada state, which netted close to US$5mn, and continues strong interest shown in land acquisitions by investors throughout 2026.
The BLM, which can issue leases once review and payment are complete, said the combined bonus bids, rentals and subsequent royalties from the leases will be distributed between the US Treasury, the state of California, as well as the various counties in which the leases are located — Modoc, Sonoma, Lake, Mono and Inyo counties.
Leasing is the first step in the process to develop geothermal resources on the parcels of land.
Before authorising any surface-disturbing activities, the BLM also conducts additional environmental reviews based on applications for exploration or development plans, which include site-specific conditions in addition to any stipulations attached to the lease at the time of sale.
Total geothermal lease sales for the first nine months of 2026, through to end September, netted the BLM a cumulative total of over US$42mn — a figure that excludes recent sales in California and Nevada.