Geothermal potential draws interest to Churchill property
Two existing geothermal wells near a recently listed Churchill County property has prompted a flurry of potential buyers in the parcel, says Tony Reda, a commercial broker for Keller Realty Inc. in Reno
Investor Dennis Blantey purchased the 1,287-acre property 20 miles west of Fernley three years ago, and Reda says Nevada’s fast-growing geothermal market dictated its sale.
“You wouldn’t believe how many people I have talked too,” Reda says. “I am surprised I didn’t think it would take off this fast, but having two power plants in operation is making it so popular.”
The two tapped wells adjacent to the property the 21.5-megawatt Brady Geothermal Plant owned by Ormat Technologies, and geothermal-powered onion dehydration plant owned by ConAgra Foods make potential geothermal exploration a key selling point on the for-sale parcel.
“They have not drilled on the property, but it’s totally surrounded by existing wells, so it’s highly probable there will be good (geothermal) activity on the property.”
The parcel is located an eighth of a mile from the Nightingale exit off Interstate 80. Reda says electricity and natural gas service exist in the area but water service requires well drilling.
“I have talked to the Nevada Division of Water, and they are very eager to allow for permits for water rights in that area because of all the geothermal activity. It’s kind of like a big cherry waiting to be picked,” Reda says. “The owner would do a sale on terms, an exchange or a joint venture we have a nice mixed bag to offer.”
All told, Nevada has regained roughly half of the more than 287,300 jobs lost from February to April due to Gov. Steve Sisolak’s COVID-induced economic shutdown.