Invenergy Eyes Geothermal Leases as Trump Axes Offshore Wind (1)

Invenergy LLC is accelerating its acquisitions of US geothermal leases just as the Trump administration canceled four of the company’s offshore wind leases worth $765 million.

The Chicago-based developer acquired a roughly 5,000 acre geothermal parcel in New Mexico this week via a Bureau of Land Management lease sale. That brings its total federal geothermal footprint to 45 parcels covering approximately 144,000 acres across five states.

While the Trump administration has doubled down on its attack on renewables, blocking existing offshore-wind projects and slashing incentives for solar and wind, geothermal has emerged unscathed with tax credits intact. There’s been a ...