Geothermal production lease
30 Geothermal production lease
(1) A geothermal production lease is an instrument that:
gives the lease holder:
the right to occupy the lease area; and
(ii) the exclusive right to conduct activities in the lease area related to the production of geothermal energy and the generation of power; and
is in force and entered in the register.
(2) Activities related to the production of geothermal energy include:
continuing exploration for geothermal energy resources; and
extraction of geothermal energy resources or geothermal energy.
(3) Activities related to the generation of power include the construction and maintenance of buildings and infrastructure in connection with the power generation.
(4) The rights of the lease holder may be exercised only in accordance with the conditions of the lease.
(5) The lease remains in force until the date on which a surrender or cancellation of the lease takes effect.
This Act’s bill:Explanatory statementSecond reading speech
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