Meta Teams Up with XGS Energy to Develop Geothermal Power Plant in New Mexico
Meta, formerly known as Facebook, has joined the ranks of tech companies embracing geothermal energy by announcing a partnership with startup XGS Energy to build a 150 megawatt geothermal power plant in New Mexico. The deal, which was revealed on Thursday, marks Meta’s commitment to advancing sustainable energy solutions.
XGS Energy has not disclosed the exact location of the power plant, and Meta has provided limited details about the agreement. A Meta spokesperson clarified that the partnership is focused on advancing geothermal energy development in the state, rather than a specific power purchase contract at this stage.
Geothermal energy has been gaining traction among tech companies, data center developers, and investors due to its ability to generate electricity continuously without emitting harmful gases. Advanced geothermal technology, which involves drilling deeper to access hotter rocks, has the potential to meet a significant portion of the growing energy demand for data centers in the U.S. by 2030, according to the Rhodium Group.
While many geothermal startups are adopting open loop designs that result in water loss over time, XGS Energy has developed a closed loop system that minimizes water wastage. The company’s innovative approach includes using a proprietary mud around the well casing to enhance heat transfer from the rocks to the loop, making their technology more efficient and sustainable.
The collaboration between XGS Energy and Meta is part of a series of partnerships forged by geothermal startups in the renewable energy sector. Fervo Energy, for instance, recently secured $206 million in funding to advance its Cape Station power plant project, which is set to become the largest geothermal power plant globally upon completion.
In a similar move, Google announced its purchase of 10 megawatts of geothermal energy from Baseload Capital to power its operations in Taiwan. The tech giant also has an agreement with Fervo Energy to supply electricity for its data centers in Nevada, showcasing the industry’s shift towards cleaner energy sources.
XGS Energy, having raised $20 million in Series A funding last year, is actively working on developing a commercial-scale geothermal prototype in California. The company’s commitment to sustainable energy solutions aligns with Meta’s goal of reducing its carbon footprint and promoting environmental stewardship.
