New Mexico is eyeing 24/7 green energy production after a next-generation geothermal project hit major drilling milestones in the state.
Eavor Technologies Inc. announced the completion of a revolutionary demonstration project on January 31, called Eavor-Deep™. Touted as the hottest, deepest, directional geothermal well in history, Eavor-Deep reached depths of 18,000 feet and temperatures of around 250℃ – breaking through hard granite deposits and hot-rock geothermal barriers simultaneously.
The project was covered by local news outlet the Albuquerque Journal, in which staff writer Kevin Robinson-Avila dubbed the green-tech company a major player in “what could soon become a global renaissance in geothermal development.”
Eavor’s VP of Business Development, Neil Ethier, told the Albuquerque Journal “we have massive geothermal resources sitting below our feet, but it’s been elusive to tap into the deep subsurface areas we need to reach to extract that energy economically and use it.”
“Our drilling project in southwest New Mexico showed that our technology can unlock that geothermal potential, and it’s now ready for commercial development,” Ethier added.
Eavor and Texas-based advanced geothermal competitor Fervo have also played key roles in shaping the regulatory landscape of geothermal in New Mexico, having attended a working group on geothermal development held by state Senator Gerald Ortiz y Pino in 2022.
Following the working group, Ortiz y Pino put Senate Bill 8 forward, also known as the Geothermal Resources Development Act. The bill is still under consideration, but the politician expects to see increased bipartisan support for the Act as it moves through legislation.
To read the full article by Robinson-Avila, click here.
Government policies like Ortiz y Pino’s Geothermal Resources Development Act play a major role in determining the rate of emerging industry scalability. Executive Vice President of Corporate Affairs for Eavor, Jeanine Vany, along with other members of Eavor’s team worked alongside the provincial government of Alberta to develop a comprehensive list of rules and regulations, which came into force in 2020 as the Geothermal Resource Development Act.
In 2022, the Alberta Government received over 70 applications for geothermal leases and granted more than 30 – momentum that signals promise for New Mexico’s emerging geothermal industry if Senate Bill 8 is passed.