California has been the hot spot for solar land speculation. So much so that open land there is running out and the focus is shifting to Nevada as the rush on public land for private power plant leases heats up.

In just the last five months, according to Green Wombat, lease claims filed by speculators with the BLM in Nevada have more than tripled; from 226,000 to 706,000 acres. Throughout the entire desert southwest, land lease claims are piling up as financial prospects grow dimmer and renewable energy demand gets stronger.

The BLM is reviewing lease claims on a first-come-first-served basis. Now, considering the desperation flooding financial markets at this time, the odds are good that several of these claims will fall through, due either to lack of financing or no real ability to implement a solar strategy on the land. With that in mind, some big, international names are joining the rush.

Much of the spike in claims in Nevada is creditable to Goldman Sachs. The gargantuan investment firm (and former employer of Treasury Secretary Henry Paulson) has staked claims in over 300,000 acres in Nevada. Other U.S. companies are in on the game as well, including solar start-up Ausra, but international investors are working their way in as well. Big firms from Spain, Portugal, France, and Germany are all throwing their hands into the land grab.

Markets all over the world are in turmoil, but the U.S. market is somewhat unique. Advancement of large-scale solar projects was set by Congress’ renewal of the Investment Tax Credit for renewable energy and there are massive swaths of public land available for lease by investors. Apparently, the future of many of these investors is questionable but the future of solar is not.

Posted on December 4th in Solar News by Dan.