Hexagon Energy and Weyerhaeuser Partner to Develop Geothermal Projects in the Pacific Northwest
Hexagon Energy has entered into an agreement with Weyerhaeuser Co. to develop geothermal energy projects on land owned by Weyerhaeuser across Washington and Oregon, potentially generating up to 3 GW of clean power capacity. The partnership aims to leverage Hexagon's expertise in utility-scale renewable development alongside Weyerhaeuser’s extensive timberland holdings. Hexagon has already secured leases for geothermal rights covering approximately 145,000 acres under the agreement. Both companies highlighted that this collaboration aligns with growing demand for baseload carbon-free energy driven by sectors like artificial intelligence and data centers. Hexagon Energy is a developer of wind, solar, storage, and geothermal projects across the U.S., while Weyerhaeuser seeks to expand its Climate Solutions business through sustainable land use. The deal reflects broader industry trends toward renewable baseload power generation as part of decarbonization efforts in energy markets. Hexagon currently has over 10 GW of active development pipeline, and this partnership adds a significant geothermal component.
Tickers: $WY