An innovative land trust funding Colorado schools since 1876.
FOR IMMEDIATE RELEASE
September 25, 2025
Colorado State Land Board Issues Request for Information on Geothermal Development
All interested parties encouraged to participate in transparent process hosted by Efficient Markets
DENVER, CO – The Colorado State Land Board today announced the release of a statewide Request for Information (RFI) to solicit interest in geothermal energy exploration and development on state trust lands. The process is being administered by Efficient Markets, an expert these types of processes. The Board’s goal is to learn more about which state trust parcels have the greatest potential for developing this important source of renewable energy.
"This RFI is about fairness, transparency, and casting the net as wide as possible,” said Dr. Nicole J. Rosmarino, Director of the State Land Board. “We encourage every party with interest in geothermal resources on state trust lands to participate. The responses we receive will help shape the future of renewable energy development on our lands and ensure that any eventual projects balance trust revenue, environmental stewardship, and community values."
The RFI invites proposals from industry operators and developers who wish to nominate lands and outline their capacity to responsibly develop geothermal resources for projects such as electricity generation, direct-use application, and enhanced geothermal systems. Responses will help the State Land Board determine which tracts of state trust land may be advanced to a competitive leasing process.
"We are proud to partner with the Colorado State Land Board on this groundbreaking initiative,” said Gus Rivero, Chief Ventures Officer at Efficient Markets. “Efficient Markets exists to create open, transparent, and competitive marketplaces, and geothermal development in Colorado represents exactly that kind of opportunity. By hosting this RFI, we are helping ensure that every interested party—large or small—has a clear path to engage, while providing the Land Board with robust data to guide future leasing decisions."
Colorado has been identified as having some of the strongest geothermal potential in the nation. Many areas in Colorado exhibit subsurface temperatures suitable for commercial-scale power generation. Recent legislation and new state programs have further strengthened the regulatory and financial landscape for geothermal investment. The Colorado Greenhouse Gas Reduction Roadmap 2.0 encourages more development of geothermal to transition to green energy.
About the RFI
- Eligible Lands: All surface lands owned by the Colorado State Land Board may be nominated through this process.
- Respondents: Open to any qualified parties interested in geothermal development, including electricity generation, direct-use applications, or enhanced geothermal systems.
- Response Deadline: December 11, 2025, at 4:00 p.m. MT.
- Submission: Proposals should be submitted via email to Tate Smith, Senior Associate, Client Advisory, at tate.smith@energynet.com.
- Interactive Map: An online map of eligible lands is available on the RFI listing webpage.
Depending on the results of the RFI, the State Land Board could solicit parcel-specific Request for Proposals (RFP), in which geothermal development and non-development projects would be considered.
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Contact:
Emily Barbo
Public Information Officer
Colorado State Land Board
emily.barbo@state.co.us
720-854-3330
About the Colorado State Board of Land Commissioners:
The Colorado State Land Board is a constitutionally created agency that manages a $6 billion endowment of assets for the intergenerational benefit of Colorado’s K-12 schoolchildren and public institutions. The agency is the second-largest landowner in Colorado and generates revenue for beneficiaries by leasing three million surface acres and four million subsurface acres for agriculture, grazing, recreation, commercial real estate, rights-of-way, renewable energy, oil, gas, and solid minerals. The agency is entirely self-funded and receives no tax dollars.