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67254 Highway 299 E - Surprise Valley 1,182 Acres of Commercial Land Offered at $46,065,361 CAD in Cedarville, CA 96104
INVESTMENT HIGHLIGHTS
- $4 million in awarded grants with strong state support for geothermal development
- Independent GeothermEx appraisal: Thermal energy equivalent to 400–800 barrels of oil per day (potentially up to $20.4 M annually at $70/barrel)
- Mineral rights included across all 1,182 acres.
- California Energy Commission report: “The productivity is among the highest levels seen in the geothermal industry.”
- Flexible AG (General Agricultural) zoning allows for resort expansion, wellness retreats, greenhouses, manufacturing, or future subdivision
- Strategic federal land adjacency: 2,018 neighboring acres are nominated for inclusion in a future BLM California geothermal land auction
EXECUTIVE SUMMARY
The Surprise Valley Geothermal Development Portfolio, located in Cedarville, California, comprises 1,182 acres of privately deeded geothermal land featuring multiple naturally occurring thermal springs, two artesian cold wells, three shallow hot wells, and a deep well (WME-E1) drilled and owned by Modoc County, which confirmed a high-temperature resource. The property is strategically positioned adjacent to a power line owned and maintained by Surprise Valley Electric Corporation (SVEC), with an estimated available capacity of 20 MW.
The portfolio also includes Surprise Valley Hot Springs, a 21-room resortwith private hot tubs, a 5,912 sq. ft. shop, a 16-parcel subdivision, and an area identified for up to 20 RV spaces (future use subject to permitting and approvals).
WME-E1 confirmation/production well — a 3,605-foot, high-temperature geothermal well owned by Modoc County, offering proven production potential and publicly backed resource security. County ownership provides regulatory continuity, long-term permitting stability, and confidence for commercial developers.
Nearby Ormat activity underscores regional value — Ormat Technologies has recently acquired a geothermal play about 10 miles north of this property near Lake City, California, highlighting ongoing industry investment in the Surprise Valley resource area. Attractive return potential (20 MW binary/ORC plant) — estimated unlevered IRRs in the mid- to high teens (˜15–25 %) and simple paybacks in 5–8 years, depending on PPA pricing, capacity factor, and capital costs.
Opportunity
With a rare combination of proven, publicly supported geothermal infrastructure, an established resort and facilities, and large-scale development potential, Surprise Valley Hot Springs offers a premier investment at the intersection of renewable energy, tourism, and commercial growth. Backed by Modoc County’s ownership of the WME-E1 production well and strong state support, the project is well-positioned to advance California’s clean energy goals while delivering attractive long-term returns for developers and energy investors.
The portfolio also includes Surprise Valley Hot Springs, a 21-room resortwith private hot tubs, a 5,912 sq. ft. shop, a 16-parcel subdivision, and an area identified for up to 20 RV spaces (future use subject to permitting and approvals).
WME-E1 confirmation/production well — a 3,605-foot, high-temperature geothermal well owned by Modoc County, offering proven production potential and publicly backed resource security. County ownership provides regulatory continuity, long-term permitting stability, and confidence for commercial developers.
Nearby Ormat activity underscores regional value — Ormat Technologies has recently acquired a geothermal play about 10 miles north of this property near Lake City, California, highlighting ongoing industry investment in the Surprise Valley resource area. Attractive return potential (20 MW binary/ORC plant) — estimated unlevered IRRs in the mid- to high teens (˜15–25 %) and simple paybacks in 5–8 years, depending on PPA pricing, capacity factor, and capital costs.
Opportunity
With a rare combination of proven, publicly supported geothermal infrastructure, an established resort and facilities, and large-scale development potential, Surprise Valley Hot Springs offers a premier investment at the intersection of renewable energy, tourism, and commercial growth. Backed by Modoc County’s ownership of the WME-E1 production well and strong state support, the project is well-positioned to advance California’s clean energy goals while delivering attractive long-term returns for developers and energy investors.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $46,065,361 CAD | Lot Size | 1,182.00 AC |
| Price Per AC | $38,972.39 CAD |
| Price | $46,065,361 CAD |
| Price Per AC | $38,972.39 CAD |
| Lot Size | 1,182.00 AC |
1,182+ acres of prime geothermal land ready for development.
DESCRIPTION
Welcome to Surprise Valley Hot Springs, the hidden gem of California, nestled in the northeastern corner, where innovation meets sustainability. • California Energy Commission Report states “The productivity is among the highest level seen in the • California Energy Commission Report states “The productivity is among the highest level seen in the geothermal industry” • Four million dollars in grants received from the California Energy Commission • GeothermEx report “The opportunity for geothermal exploration is at a significant scale”
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $392,114 CAD | |
| Land Assessment | $771,554 CAD | Total Assessment | $1,163,668 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$771,554 CAD
Improvements Assessment
$392,114 CAD
Total Assessment
$1,163,668 CAD
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67254 Highway 299 E - Surprise Valley
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