The US’ Bureau of Land Management (BLM) has accepted winning bids on nine parcels of land in Idaho covering nearly 24,355 acres, in a geothermal lease sale that has netted US$4.4mn in total receipts.
“Geothermal lease sales support domestic energy production and American energy independence, while contributing to the nation’s economic and military security,” a BLM statement noted.
Consistent with Executive Order 14154, ‘Unleashing American Energy’, BLM added that the geothermal lease sales will “help meet the energy needs of US citizens, will solidify the nation as a global energy leader long into the future, and achieve American energy dominance.”
The Bureau noted that it may issue the leases once review and payment are complete, but did not disclose the names of the winning bidders.
The combined bonus bids, rentals, and subsequent royalties from the leases will then be distributed between the US Treasury, the State of Idaho, and Elmore, Washington, and Bonneville counties where the leases are located, it added.
“Geothermal is an abundant resource, especially in the West, where the BLM has authority to manage geothermal resource leasing, exploration, and development on approximately 245 million surface acres of public lands and the 700 million acres where the United States owns the subsurface mineral estate,” the Bureau noted.
However, leasing is only the first step in a longer process to developing federal geothermal resources.
The BLM ensures geothermal development meets the requirements set forth by the National Environmental Policy Act of 1969, and other applicable legal authorities.
In recent months, the Bureau has successfully managed similar geothermal lease sales in other states, including California and Oregon, raising a further US$3mn in the process.