Meta team with XGS energy builds a 150 MW geothermal power plant
Meta, the latest high-tech company to warm geothermal energy, announced its contract with startup XGS Energy on Thursday to develop a 150-megawatt geothermal power plant in New Mexico.
xgs energy There is no place to build the power plant yet. Meta will not disclose any details regarding the transaction other than saying it is not a contract to purchase electricity yet, but an “accord to advance geothermal energy development.”
Recently, high-tech companies, data center developers and investors have been welcoming the technology. Geothermal can generate electricity around 24 hours a day without generating emissions. This is an attractive combination to hyperscalers.
Advanced geothermal drilled deep to access hotter rocks could generate enough electricity by 2030 to meet almost two-thirds of the demand for new data centers by 2030. Rhodium Group.
Many geothermal startups pursue open loop designs. There, one well is injected with water, passing through a crack in the rock, then extracted from another well. Over time, some of the water will be lost to the ground.
XGS energy, on the other hand, sends water through a closed loop in a sealed well, minimizing water loss. It also injects its own mud into the outside of the well casing to allow more heat transfer from the rock to the loop.
The XGS Energy and Meta partnership is the latest in a series of deals acquired by geothermal startups.
Wednesday, Fervo Energy We secured $206 million In financing, the world’s largest geothermal power plant when it is completed to continue work at Cape Station Power Station. The company’s momentum is fueled by speculation. It may be published It’s already next year.
In April, Google said that I’m buying 10 megawatts Geothermal from Baseroad Capital to promote operations in Taiwan. Search major There is also a transaction There is a Fervo that powers the Nevada Data Center.
XGS Energy raised a $20 million Series A last year to help develop commercially-scale prototypes in California.