Geothermal company Zanskar bought a New Mexico power plant in 2024 that appeared from the outside to be failing. Now, after drilling a new well and operating the power plant for a full year, Zanskar says that it has made a complete turnaround. It’s the latest bit of good news for the long-neglected geothermal industry, which is experiencing an investment renaissance. Traditional geothermal energy relies on tapping hot water within the earth to generate electricity by pumping it to the surface and spinning turbines. But Lightning Dock’s decline had been particularly steep, losing between five and 10 times as much heat each year as average wells, Zanskar says.