Tech Giant Meta’s Secretive Energy Gambit: Unveiling a New Mexico Powerhouse

Meta is partnering with geothermal startup XGS Energy on a major new energy project in New Mexico, marking the latest step by tech companies toward renewable power. The initiative will construct a 150-megawatt geothermal power plant, although the exact location within the state and detailed terms of the agreement have yet to be disclosed.

The announcement underscores tech companies’ increasing interest in geothermal energy, a renewable resource capable of producing consistent, emission-free electricity around the clock. Because of its continuous availability and environmental benefits, geothermal power has become highly attractive to data center operators and large-scale technology firms seeking sustainable energy solutions.

Advanced geothermal technologies, which involve drilling deeper wells to access hotter rock formations, are particularly promising. According to forecasts, this advanced geothermal approach could supply nearly two-thirds of the additional electricity required for new data centers in the United States by 2030.

Most geothermal developments have traditionally adopted an open-loop system, where water is pumped into a deep well, circulated through subterranean cracks to absorb underground heat, and then extracted from another well, inevitably losing some water in the process. XGS Energy, however, employs a different approach, using a closed-loop, sealed well design to significantly minimize water loss. Additionally, the company utilizes a proprietary mud compound around the well casing, which enhances the transfer of heat from the underground rocks to the circulating water inside the loop, making the system more efficient.

Meta’s partnership with XGS Energy comes amid heightened activity in the geothermal sector. Just this week, geothermal developer Fervo Energy secured $206 million in funding for the Cape Station geothermal facility, which upon completion, will be the largest plant of its kind worldwide. Google has also been increasingly active in geothermal investment, recently purchasing 10 megawatts of geothermal electricity from Baseload Capital to serve its Taiwanese operations, in addition to striking deals with Fervo Energy in Nevada.

XGS Energy itself raised $20 million in Series A funding last year, empowering the company to establish a commercial-scale prototype in California before teaming up with Meta on this new, ambitious project in New Mexico.

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