US holds Nevada geothermal auction amid soaring industry interest
XLU•The US will auction geothermal leases covering 265,000 acres in Nevada, offering 83 parcels at a minimum bid of $2 an acre. Winning bids averaged a record $339 per acre at an August Utah sale, compared with $32 per acre at Nevada’s sale a year earlier.
1. Nevada lease sale
The Interior Department’s Bureau of Land Management will offer 83 geothermal lease parcels covering 265,000 acres in Nevada through an online auction starting at 10 a.m. EDT on Tuesday. Some of the acreage overlaps with major solar energy projects.
2. Rising lease prices
The sale is the fourth of six federal geothermal auctions scheduled for 2026 and the first this year in Nevada. Winning bids averaged a record $339 per acre at an August Utah auction, while Nevada’s sale a year earlier averaged $32 per acre; before 2025, the record was $63 per acre.
3. Growing geothermal interest
The administration has promoted geothermal energy as a source of always-on electricity that could help meet rising demand tied to artificial intelligence. Companies have adapted oil-and-gas drilling techniques to tap underground heat, and Nevada is among the most active states for development, with companies including Ormat and Fervo Energy.
