Ormat dominates US geothermal auction in Nevada
ORA•Ormat won eight Nevada geothermal lease parcels covering about 20,000 acres for $2.29 million, nearly half of the auction’s nearly $4.5 million in winning bids. Invenergy won the most acreage, with nine parcels covering 37,000 acres.
1. Ormat leads bidding
The Nevada auction drew bids on 60 of the 83 land parcels offered by the Interior Department’s Bureau of Land Management. Ormat’s eight winning parcels covered about 20,000 acres and cost $2.29 million; its highest bid was $201 per acre for a 3,841-acre parcel in White Pine County.
2. Other major winners
Invenergy won nine parcels covering 37,000 acres for $694,947, the largest acreage total. Glovate LLC won six parcels covering 24,000 acres for $570,601. More than a third of the leases sold at the minimum price of $2 an acre, with competition concentrated in a handful of parcels.
