PartnershipJun 24, 2026, 07:01 AM
Baker Hughes & Mantle Reach Power Target 500MW Geothermal Power
AI Summary
Baker Hughes and Mantle Reach Power, backed by EnCap Energy Transition Fund III, announced a commercial agreement to deploy large-scale geothermal energy in North America. The collaboration aims to install up to 500 megawatts of power within the next five years, leveraging Baker Hughes' integrated subsurface and surface technologies and Mantle Reach Power's development and financing expertise. This partnership seeks to overcome historical barriers to scaling geothermal energy, providing reliable, clean baseload power for growing electrification and digital infrastructure demands.
Key Highlights
- Baker Hughes partnered with Mantle Reach Power for geothermal deployment.
- Target: Install up to 500 MW of geothermal power in North America.
- Goal to be achieved within the next five years.
- Baker Hughes to provide integrated subsurface and surface solutions.
- Mantle Reach Power to lead project development, ownership, and financing.
- Collaboration aims to accelerate development and enhance project bankability.
- Mantle Reach Power is backed by EnCap Energy Transition Fund III.
- EnCap Investments has raised approximately $47 billion across 25 funds.
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