Geothermal lease sale in Utah sets new record for highest revenue per acre
The field research facility of Utah FORGE near Milford, Utah (source: Utah FORGE)
Alexander Richter
11 Apr 2025
The BLM geothermal lease sale in Utah raised over USD 5.6 million, highlighting growing investor interest in renewable energy development across the state.
The Utah state office of the Bureau of Land Management (BLM) successfully conducted a competitive geothermal lease sale in Utah on April 9, 2025, generating over USD 5.6 million in high bids. The sale marks a record for generating the most revenue per acre compared to any previous geothermal lease sales on BLM public lands in Utah.
In total, 14 parcels totaling 50,961 acres of federal land were offered. All parcels received bids, reflecting strong industry interest. The highest bid per acre was at $344, and the sale attracted bids of $111.46 on average per acre.
The companies that secured parcels are as follows:
- Buffalo River Minerals LLC – 6 parcels
- Percheron Professional Services LLC – 4 parcels
- Invenergy Geothermal Development LLC – 2 parcels
- Umbrella Renewables LLC – 1 parcel
The lease sale was authorized under the Energy Policy Act of 2005, which directs the U.S. Department of the Interior to support geothermal leasing on federal lands. Revenue from lease sales is shared with the state and counties, providing valuable funding for local infrastructure and services.
All leases issued from the sale will carry standard BLM stipulations to protect natural and cultural resources, including areas with sensitive wildlife and recreational value. Successful bidders must undergo further environmental review before any geothermal exploration or development begins.
Utah is among the most promising U.S. states for geothermal energy development due to its favorable geology and existing energy infrastructure. With this lease sale, the BLM not only advances the development of sustainable baseload power but also sends a strong market signal that geothermal continues to be a key pillar in the renewable energy mix.
This successful lease sale demonstrates growing investor confidence in geothermal energy and the importance of public-private collaboration to unlock the full potential of the U.S. geothermal resource base. It also opens opportunities for developers to tap into new project areas that can support both power generation and direct-use applications.
Details about the geothermal lease sale aspects can be found on the BLM website.
Source: BLM
