Fervo Signs 396-MW Geothermal Power Supply Deal with Google; Shares Jump
Google can expand purchases by about 600 MW, bringing total potential capacity to nearly 1 gigawatt by June 2030, Fervo said.
- On Tuesday, Fervo Energy signed a deal to supply 396 megawatts of geothermal power to Google from its Cape Station project in Utah, sending shares up nearly 14 per cent in premarket trading.
- The agreement builds on an existing partnership from Project Red in Nevada, where Fervo CEO and co-founder Tim Latimer said, "This agreement reinforces that EGS is ready to power the next generation of computing infrastructure."
- Under the agreement, Google holds an option to increase power purchases by about 600 MW, bringing total potential capacity to nearly 1 gigawatt by June 2030, Fervo said.
- Lucia Tian, Google's director of advanced energy technologies, told The Wall Street Journal the company lacks clarity on the data center's Utah location, though "it will be a foundational building block of power generation for a data center presence in Utah."
- Fervo's total contracted capacity now stands at around 1,000 megawatts, with Shell and Southern California Edison among other buyers, reflecting rising electricity demand from data centers driving investment in new generation capacity across the U.S.
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Fervo signs 396MW geothermal deal with Google for 2028 start
Alphabet has contracted up to 396MW of geothermal power from Fervo Energy for a prospective Utah data centre from 2028, with an option on another 600MW by 2030 that would take the order close to a gigawatt. The European Union had about 1GW of net geothermal electricity capacity in total in 2022, and geothermal supplied […] This story continues at The Next Web
Fervo signs 396-MW geothermal power supply deal with Google; shares jump
Fervo Energy Signs Its Largest Geothermal Deal Yet With Google, Stock Jumps
Google signed a deal for up to 396 megawatts from Fervo Energy's Cape Station geothermal project in Utah, with an option to expand toward nearly 1 gigawatt by 2030. Fervo's stock jumped as much as 20% on the news, the largest enhanced-geothermal power deal on record.
Google Signs Record Geothermal Power Deal with Fervo
Geothermal energy project developer Fervo Energy announced a new 396 MW power purchase agreement (PPA) with Google to provide the tech giant with carbon-free energy from its Cape Station project in Utah, marking the largest enhanced geothermal PPA to date globally. As part of the new agreement, Fervo will offer Google an option to expand its offtake by approximately 600 MW, for a total of nearly 1 GW, by June 2030. Shares in Fervo, which IPOed e…
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