I have direct knowledge of this project.
The technology is called ATES or BTES. You can read more about it here:
Using the earth as a thermal battery has so many benefits.
Unfortunately, the upfront costs are quite high
Like drilling for oil, the ground must be studied and tested to see if the aquifer can deliver enough flow in the right conditions to prove economic.
In these systems, a hydronic system delivers enormous energy from water that usually varies in temperature less then 20F in the ground.
+10F in the summer, -10F in the winter, relative to normal ground water conditions.
This does not work well in the South (generally North Carolina-ish to the equator is challenged with too few free cooling days)
This does not work well in high ground water velocity aquifers
This does not work well in very small applications. (Commercial, industrial or government buildings have the scale to use this tech, however)