Texas issues first geothermal lease - AP

[Eugene]

Wednesday, February 7, 2007 · Last updated 1:34 a.m. PT

Texas issues first geothermal lease

THE ASSOCIATED PRESS

AUSTIN, Texas -- Texas has awarded the state's first lease for geothermal energy production
to a company planning to explore the renewable energy's potential along seven Gulf Coast
counties.

Ormat Technologies, Inc. paid $55,645, or $5 an acre, for the right to explore 11,129 acres
for pockets of hot water and steam under the ocean floor, the General Land Office announced
Tuesday.

"We got more bids than we expected," Texas Land Commissioner Jerry Patterson said. "I think
that's a good sign geothermal might just be an economically viable form of renewable energy
for Texas."

-snip-

Producers create geothermal energy by tapping into warm geologic strata to withdraw hot
water and steam that is brought to the surface to drive turbines, which in turn drive
electricity generators.

-snip-

Full article: http://seattlepi.nwsource.com/national/1110AP_Geothermal_Energy.html

[panader0]

1. This is good news. Let's hope for more of this. n/t