Latest news with #XGS
Yahoo
17 hours ago
- Business
- Yahoo
Meta and XGS Energy link to develop geothermal project in New Mexico
Meta Platforms has signed an agreement with XGS Energy to support the development of 150MW of geothermal energy project in the US state of New Mexico. Both its initial smaller first phase and its larger second phase will be operational by 2030. Both will be located on the site of the state's PNM public service electric grid. The agreement represents another step for Meta, one of the world's largest corporate purchasers of renewable energy. Meta global head of energy Urvi Parekh stated: 'Advances in AI require continued energy to support infrastructure development. 'With next-generation geothermal technologies like XGS ready for scale, geothermal can be a major player in supporting the advancement of technologies like AI as well as domestic data centre development. 'We're excited to partner with XGS to unlock a new category of energy supply for our operations in New Mexico.' The energy company's geothermal technology will be deployed to the PNM electric grid and will support the tech company's data centre operations, which are located in New Mexico. XGS's tech has separated geothermal energy production from traditional constraints by eliminating the need for specific geological conditions such as water availability or permeable rock formations. Currently, New Mexico has only one operational geothermal power plant despite having some of the most promising hot rock resources nationwide. The new project is expected to raise New Mexico's total output of geothermal electricity tenfold. XGS Energy CEO Josh Prueher stated: 'We're pleased to support Meta's ambitious AI objectives and accelerate access to new round-the-clock power supplies. 'More broadly, the state of New Mexico is a growing hub for data centre development. We are eager to feed clean, water-independent geothermal power into the New Mexico market at a scale uniquely possible with XGS technology.' Constellation and Meta recently signed a 20-year power purchase agreement (PPA) to use the output from the Clinton Clean Energy Center in Illinois, US. The deal supports Meta's clean energy objectives and regional operations by providing 1,121MW (1.12GW) of emissions-free nuclear energy. "Meta and XGS Energy link to develop geothermal project in New Mexico" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hans India
2 days ago
- Business
- Hans India
Meta Expands Geothermal Push with XGS Energy Deal to Power AI Growth
Meta is ramping up its renewable energy strategy with a new partnership aimed at meeting the ballooning electricity demands of artificial intelligence. The tech giant has inked a deal with XGS Energy, a next-generation geothermal startup, to supply 150 megawatts of carbon-free electricity to the power grid supporting Meta's Los Lunas data center in New Mexico. The agreement marks another significant step in Meta's broader clean energy journey, especially as AI technologies drive unprecedented power consumption across global data centers. Geothermal energy, once limited by geography, is gaining new momentum thanks to emerging technologies like those developed by XGS. 'Advances in AI require continued energy to support infrastructure development,' said Urvi Parekh, Meta's global head of energy, in a press release. 'With next-generation geothermal technologies like XGS ready for scale, geothermal can be a major player in supporting the advancement of technologies like AI as well as domestic data center development.' Traditional geothermal plants draw heat from naturally occurring underground steam or hot water reservoirs to generate electricity. However, such sources are geographically constrained, leaving geothermal with just a sliver—about 0.5%—of the U.S. energy mix. XGS and other innovators aim to break through those limits with engineered solutions. XGS Energy's method stands out by using a closed-loop system. Instead of relying on natural cracks and underground water sources, their technology circulates water within a steel casing, minimising the risk of leakage and conserving water—especially vital in arid regions like New Mexico. This initiative with XGS Energy will roll out in two phases, with the ultimate goal of becoming operational by 2030. Although Meta has not disclosed the financial details, the investment reinforces its commitment to its 2020 pledge of reaching net-zero emissions by the decade's end. Yet, the road to net-zero is complex. AI infrastructure is driving up power demands sharply, and without a strong push for clean energy solutions, tech giants like Meta risk veering off course from their climate goals. The company has been proactive, recently announcing efforts to bring an old nuclear plant back online and exploring other geothermal deals, such as a 150MW partnership with Sage Geosystems. Sage's technology taps into hot, dry rock formations by drilling and injecting water to simulate natural geothermal reservoirs. Google is also exploring this clean energy frontier, backing similar efforts through a collaboration with Fervo, another geothermal startup innovating in this space. Despite these advancements, Meta's carbon emissions have grown since its climate commitments were announced—largely driven by AI development and global data center expansion. In Louisiana, plans for three new gas-powered plants to support a new Meta data facility have raised questions about the balance between growth and sustainability. Still, projects like the XGS Energy deal offer a glimpse into a possible future where AI and environmental stewardship go hand in hand. By investing in scalable geothermal solutions, Meta is not just meeting its energy needs—it's helping to shape the next chapter in clean energy innovation.
Yahoo
2 days ago
- Business
- Yahoo
Meta signs deal for advanced geothermal power in New Mexico
By Laila Kearney NEW YORK (Reuters) -Meta signed an agreement with XGS Energy to help develop 150 megawatts of advanced geothermal electricity in New Mexico to power the Facebook parent company's artificial intelligence expansion, the companies said on Thursday. WHY IT'S IMPORTANT Giant technology companies like Meta are striking unprecedented power deals to secure massive amounts of electricity for the data centers needed to develop AI, which is a top driver of the record U.S. power consumption projected for 2025 and 2026. Geothermal energy, which does not produce climate-warming carbon emissions, has become a popular source of electricity for Big Tech companies, many of which have emissions reduction goals. Unlike conventional geothermal power production, advanced geothermal does not rely on natural water sources. Last year, Google announced plans to fuel its data centers with advanced geothermal power produced by Fervo Energy. CONTEXT While 150 megawatts is a tiny fraction of the many gigawatts of power sought by technology companies to power AI, it would represent about 4% of total U.S. geothermal production. New Mexico, which lays claim to a section of the world's largest shale oil basin, has 160,000 megawatts of untapped geothermal power generation potential. The phased-in project between XGS and Meta is projected to be operational by the end of the decade. The advanced geothermal electricity will be deployed to the electric grid and support Meta's operations in the state. KEY QUOTE 'With next-generation geothermal technologies like XGS ready for scale, geothermal can be a major player in supporting the advancement of technologies like AI as well as domestic data center development," Urvi Parekh, Global Head of Energy at Meta said in a written statement. "We're excited to partner with XGS to unlock a new category of energy supply for our operations in New Mexico,' he said.
Yahoo
2 days ago
- Business
- Yahoo
Meta signs deal for advanced geothermal power in New Mexico
By Laila Kearney NEW YORK (Reuters) -Meta signed an agreement with XGS Energy to help develop 150 megawatts of advanced geothermal electricity in New Mexico to power the Facebook parent company's artificial intelligence expansion, the companies said on Thursday. WHY IT'S IMPORTANT Giant technology companies like Meta are striking unprecedented power deals to secure massive amounts of electricity for the data centers needed to develop AI, which is a top driver of the record U.S. power consumption projected for 2025 and 2026. Geothermal energy, which does not produce climate-warming carbon emissions, has become a popular source of electricity for Big Tech companies, many of which have emissions reduction goals. Unlike conventional geothermal power production, advanced geothermal does not rely on natural water sources. Last year, Google announced plans to fuel its data centers with advanced geothermal power produced by Fervo Energy. CONTEXT While 150 megawatts is a tiny fraction of the many gigawatts of power sought by technology companies to power AI, it would represent about 4% of total U.S. geothermal production. New Mexico, which lays claim to a section of the world's largest shale oil basin, has 160,000 megawatts of untapped geothermal power generation potential. The phased-in project between XGS and Meta is projected to be operational by the end of the decade. The advanced geothermal electricity will be deployed to the electric grid and support Meta's operations in the state. KEY QUOTE 'With next-generation geothermal technologies like XGS ready for scale, geothermal can be a major player in supporting the advancement of technologies like AI as well as domestic data center development," Urvi Parekh, Global Head of Energy at Meta said in a written statement. "We're excited to partner with XGS to unlock a new category of energy supply for our operations in New Mexico,' he said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Engadget
2 days ago
- Business
- Engadget
Meta is helping to fund geothermal energy projects in New Mexico
Meta has entered into an agreement with XGS Energy to develop "next-generation geothermal energy" projects in New Mexico. The plan is for these projects to connect directly into the electrical grid that Meta's data centers draw from, feeding the growing energy needs of the company's AI development. Both companies claim the new deal will add 150-megawatts of carbon-free energy to the grid "with zero operating water use." New Mexico is apparently uniquely suited for geothermal energy production because the state has "some of the best hot rock resources in the country," according to the deal announcement. XGS Energy's approach will allow "these hot, but typically dry, rock resources" to be used to produce electricity without having to worry about water accessibility. The agreement is split into two phases, an initial smaller one and a second larger one, both of which are "projected to be operational by 2030." Meta has previously explored geothermal energy through a partnership with Sage Geosystems, and like its past deals — including Meta's recent 20-year agreement to use a nuclear power plant in Illinois — the company is focused on finding more sources of energy for its AI data centers. "Advances in AI require continued energy to support infrastructure development," Urvi Parekh, Meta's Global Head of Energy, shared in the deal announcement. "With next-generation geothermal technologies like XGS ready for scale, geothermal can be a major player in supporting the advancement of technologies like AI as well as domestic data center development."
