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The first geothermal lease in Colorado was sold at auction Wednesday for $29,600 by the federal Bureau of Land Management.

The 800-acre Chaffee County parcel, which had been the target of local opposition, was sold for $37 an acre to 3E Geothermal in Colorado Springs.

The sale was delayed in January for further environmental reviews after area residents raised concerns.

The parcel is near the Mount Princeton hot springs, and the aim will be to power an electricity-generation unit.

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