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XGS Energy IPO: Morgan Stanley, Geothermal Growth, and Fervo’s Market Momentum

Steaming Ahead: 25-MW Geysers Expansion Delivers Baseload Renewable Power to California Grid

Power from the Depths: How a 25-MW Expansion at The Geysers is Reshaping California’s Grid Reliability By: Robert Buluma   MIDDLETOWN, California – On the verdant, rumpled hills of Sonoma and Lake counties, where steam vents hiss from the earth like dragons breathing just below the surface, a quiet revolution in renewable energy has just reached a critical milestone. On June 8, 2026, Calpine, a business unit of Constellation , officially announced the completion of a 25-megawatt (MW) expansion project at The Geysers geothermal complex—the largest operating geothermal field in the world. At first glance, 25 MW might seem modest in an era of gigawatt-scale solar farms and massive wind arrays. But this is not a typical power plant. This is baseload, weather-proof, 24/7/365 renewable energy. The new capacity, enough to power over 25,000 homes annually, represents more than just an incremental increase in output. It is a strategic bet on reliability, a testament to the enduring value of...

How the Constellation–Calpine Merger Pushed Geothermal Into the Baseload Spotlight

Constellation–Calpine Merger: Why Geothermal and Firm Clean Power Now Matter More Than Ever By: Robert Buluma The U.S. electricity sector is entering a defining moment, one where scale, regulatory scrutiny, and the search for firm clean power, are converging. The approval of Constellation’s $26.6 billion acquisition of Calpine is not just a headline-grabbing merger; it is a powerful signal about the future structure of power markets and the growing strategic value of geothermal energy and other always-on renewables. As federal regulators force divestments, allow unprecedented scale, and reassert antitrust authority, one question becomes unavoidable: **where does geothermal fit in a power system increasingly dominated by mega-utilities? The Deal,and Why It Matters for Clean Baseload To close the acquisition, Constellation agreed to divest six power plants and a minority stake in a seventh across Texas, Pennsylvania, and Delaware. These concessions were demanded by federal regulators c...