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State Land Board pauses action on Mount Princeton geothermal lease after partners withdraw
Summary
Staff notified the lessee that staff will not recommend extending geothermal exploration lease 01/1992 after project partners Western Geothermal and Reykjavik Geothermal withdrew; Princeton Holdings filed for review of staff denial of an application and public commenters and nearby residents urged protection of water and local interests.
Staff for the Colorado State Land Board told commissioners on June 12 that staff will not recommend extending geothermal exploration lease 01/1992 (Mount Princeton Hot Springs area) after two principal project partners terminated business relationships with the lessee.
Why it matters: The lease (01/1992) relates to potential geothermal exploration and future development that could affect land use, local water interests and the school trust’s revenue. Staff informed the board that the lease will expire according to its terms on July 1 unless the lessee requests review of staff’s recent decision.
Staff briefing: Ben Teschner,…
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