Texas Issues First Geothermal Energy Lease on Gulf Coast

Austin, Texas [Associated Press] 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.

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