HTM news on a new lease!!!!! That makes two in the same area.
Expect PR by the company maybe tomorrow?
ONTARIO — U.S. Geothermal and Malheur County officials have signed a lease on county property for evaluation of geothermal potential south of Vale.
U.S. Geothermal operates a geothermal power plant west of Vale. The property involved in the agreement includes 133 acres, which are accessed off Lytle Boulevard. The land abuts private land where the company has obtained leases, according to information provided to Malheur County Court.
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Establishing leases is the first step in evaluating geothermal potential, which was requested for possible further development of resources in the local area.
The agreement gives U.S. Geothermal the exclusive right to explore for geothermal resources, plus develop, produce, sell and/or use any resource discovered on the property.
The primary term of the lease will be for 10 years and up to 30 years, with the county receiving $3,000 in the initial payment U.S. Geothermal, which is to pay the county $1,500 on an annual basis during the term of the lease. The county also would receive royalties for any geothermal resource developed or produced and sold for the generation of electric power or other uses.
Kit Kamo, Snake River Economic Development director, has been working with U.S. Geothermal on finding a new site for potential development for geothermal power near Vale, with it being near a fault line.
U.S. Geothermal “has to do a lot of research,” Kamo said. That research includes determining the volume of hot water and whether it is hot enough.
A plant near Vale would be smaller but quieter than the plant at Neal Hot Springs, west of Bully Creek Reservoir, as water would be used for cooling rather than compressors, Kamo said.
AI
