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A renewable-energy developer is moving to tap Oregon’s geothermal potential under a new deal covering nearly 150,000 acres of Weyerhaeuser timberland in Oregon and Washington, with the companies saying the sites could eventually support more than 3 gigawatts of power.
Hexagon Energy Secures Lease for Geothermal Development in Oregon
Hexagon Energy announced Thursday that it has leased geothermal rights on approximately 145,000 acres across the two states from Weyerhaeuser, one of the largest private timberland owners in the United States.
The agreement will allow Hexagon to evaluate and develop geothermal projects across the company’s landholdings.
Geothermal power uses heat from beneath the Earth’s surface to generate electricity. Unlike wind and solar resources, geothermal facilities can potentially provide power around the clock, making the technology increasingly attractive as electricity demand grows.
Tidings Data Snapshot
Oregon Renewable Capacity by Source| Energy Source | Summer Capacity |
|---|---|
| Hydroelectric | 8,284.9 MW |
| Wind | 4,170.4 MW |
| Utility scale solar | 1,455.0 MW |
| Biomass | 258.4 MW |
| Geothermal | 19.5 MW |
Source: U.S. Energy Information Administration / June 2026DailyTidings.com
Oregon Geothermal Development Planned For Carbon-Free Electricity
For Oregon, the agreement could open a significant new area for geothermal development.
Tidings Data Snapshot
Where U.S. Geothermal Power Comes From- 68.6%■ California
- 24.7%■ Nevada
- 3.0%■ Utah
- 1.6%■ Hawaii
- 1.2%■ Oregon
- 0.5%■ Idaho
- 0.4%■ New Mexico
Source: U.S. Energy Information Administration / 2025DailyTidings.com
Hexagon and Weyerhaeuser estimate that the combined portfolio could eventually support more than 3 GW of carbon-free generating capacity, although that represents development potential rather than generating capacity currently under construction.
Weyerhaeuser said geothermal represents an emerging opportunity to provide reliable, around-the-clock clean power while allowing the company to continue using its land for recreation, conservation, timber production and other activities.
Hexagon said it has developed and financed more than 3 GW of utility-scale energy projects and currently has more than 10 GW in its development pipeline.
The companies did not announce specific project locations, construction schedules, or when any geothermal facilities might begin generating electricity.
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