Billion-Dollar Geothermal Initiative Set to Transform New Mexico’s Energy Landscape
Santa Fe, NM – In a significant move toward sustainable energy, New Mexico has announced a groundbreaking partnership between Meta and XGS Energy to develop geothermal energy, projected to generate 150 megawatts (MW) of power, enough to supply around 100,000 households. Governor Michelle Lujan Grisham hailed the initiative during a recent press conference, emphasizing its potential to position New Mexico as a leader in renewable energy while creating 3,000 construction jobs.
Geothermal energy, derived from the Earth’s core, offers a consistent power source without water usage, making it an ideal option for the state, which has previously overlooked its geothermal potential due to geological and water scarcity concerns. The project will utilize advanced geothermal technology, allowing for electricity generation, heating, cooling, and industrial power.
Rob Black, Cabinet Secretary Designee for the Economic Development Department, noted that this collaboration marks a substantial investment of $1 billion into New Mexico’s economy. With the first site expected to commence operations by 2030, state officials believe this venture could not only boost local employment but also provide cleaner energy solutions for the global market.
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