Adds background on geothermal energy

By Valerie Volcovici

WASHINGTON, May 30 (Reuters) - The U.S. Department of the Interior said on Friday it was implementing emergency permitting procedures to accelerate reviews of geothermal energy projects as part of President Donald Trump's energy agenda.

The projects that will be fast-tracked include three in Nevada led by Ormat ORA.N, which received funding in 2020 during the first Trump administration for research and development.

The announcement comes a month after the Interior Department said it would slash approval times that typically take months or years to at most 28 days for energy or mining projects on federal lands that it deems urgent.

“Geothermal energy is a reliable energy source that can power critical infrastructure for national security and help advance energy independence,” Interior Secretary Doug Burgum said. “We’re fast-tracking reliable energy projects while strengthening national security and supporting American workers.”

The Trump administration declared an "energy emergency" in Trump's first days in office, allowing him to use a series of steps to fast-track or skip over lengthy environmental reviews and permitting processes for oil and gas production as well as mining.

His emergency orders did not apply to renewable energy like solar power or wind but now applies to geothermal, a form of renewable energy which harnesses heat generated within the earth for heating, cooling and electricity generation.

It is a technology that has support from Energy Secretary Chris Wright, who has previously invested in geothermal company Fervo Energy.

Geothermal energy is regarded as a good alternative to traditional power sources like gas and coal because, unlike solar and wind that depend on the weather, it can run at all hours of the day.

But land access, long permitting times and technical challenges have limited its development. Geothermal accounts for less than 1% of all U.S. electricity capacity, according to the U.S. Energy Information Administration.

Last week, the U.S. Geological Survey produced a report that said geothermal energy in the Great Basin of Nevada and adjoining states could produce electricity equivalent to 10% of the current U.S. power supply.

(Reporting by Katharine Jackson, Valerie Volcovici and Nichola Groom; Editing by Chizu Nomiyama and Chris Reese)

((Katharine.Jackson@thomsonreuters.com; 202-898-8300;))