Baker Hughes reiterated its geothermal ambitions in its Q1 2026 results, announced on 23 April, following its involvement in XGS Energy’s New Mexico project.
Among Q1 highlights, the company flagged its strategic collaboration with XGS Energy and the award of an initial engineering deal to advance the planned 150 MW geothermal scheme.
“The companies will initially partner on the subsurface exploration and the integrated surface engineering phases to derisk operations and establish a strong technical foundation for the utility-scale deployment of XGS’s geothermal technology,” the Q1 results statement noted.
“The project will support the delivery of clean, baseload power to the Public Service Company of New Mexico’s grid in support of Meta’s data centre operations.”
The collaboration, first announced at the end of March, brings together Baker Hughes’ ground-to-grid geothermal portfolio – integrating subsurface engineering and well construction with integrated power solutions and infrastructure project execution – with XGS’s water and geology-independent geothermal system.
At the time, Baker Hughes Chief Growth and Experience Officer and interim Executive Vice President of Industrial & Energy Technology, Maria Claudia Borras, said that geothermal energy can play a vital role in delivering reliable, cleaner power at scale.
“By collaborating with XGS at this early stage, we are applying our ground‑to‑grid capabilities to reduce technical risk, accelerate reservoir validation and engineer an integrated solution to deliver first power efficiently and reliably.”