Meta teams with XGS Energy to build a 150 MW geothermal power plant

Core Insights - Meta has announced a partnership with XGS Energy to develop a 150 megawatt geothermal power plant in New Mexico, focusing on advancing geothermal energy development rather than a power purchase agreement [1] - The geothermal energy sector is gaining traction among tech companies and data center developers due to its ability to generate electricity continuously without emissions, which is particularly appealing to hyperscalers [2] - Advanced geothermal technology has the potential to meet nearly two-thirds of new data center electricity demand in the U.S. by 2030, according to the Rhodium Group [2] Company Developments - XGS Energy employs a closed loop design for its geothermal systems, which minimizes water loss and enhances heat transfer from rocks to the water loop, differentiating it from many other geothermal startups [3] - Fervo Energy has secured $206 million in financing for its Cape Station power plant, which is projected to be the largest geothermal power plant globally, and there are speculations about a potential public offering next year [6] - Google has made moves in the geothermal space by purchasing 10 megawatts from Baseload Capital for its operations in Taiwan and has a deal with Fervo for its Nevada data centers [7]