The bid is for a geothermal lease on Augustine Island in southwestern Cook Inlet in the Kenai Peninsula Borough of south-central coastal Alaska, 280 kilometers southwest of Anchorage.
Bill Barron, director of Alaska's Division of Oil and Gas, said given the state's history with geothermal leases -- this was the third, with a previous sale for Mount Spurr in 2008 and another in the 1980s -- he wasn't sure what to expect.
“Even by having one bid, I'm kind of pleased,” he said.
Despite increasing interest in renewable energy, geothermal has struggled to find a footing in Alaska. There are only a handful of geothermal projects in the state, according to the Alaska Energy Authority. According to the AEA, despite “significant geothermal potential, the attributes of Alaska’s geothermal resources remain poorly defined.”
Nicholas Van Wyck bid $1.02 per acre, or $2,544.90 for the geothermal tract. It covers 2,495 acres on the northwest corner of Augustine Island.
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