Fervo Energy signs 396 MW geothermal PPA with Google for Utah project

Fervo Energy (Nasdaq: FRVO) announced a 396-megawatt power purchase agreement with Google to support development of the Cape Station enhanced geothermal systems GeoCluster in Utah, with the project expected to come online in 2028.

Under the agreement, Google will purchase carbon-free energy intended to serve a potential data center in Utah. The deal also includes an option for Google to expand its offtake by approximately 600 MW, bringing the total to nearly 1 gigawatt, by June 2030. Final data center plans remain subject to engineering feasibility, state and local approvals, and commercial conditions.

The press release describes the agreement as the world's largest enhanced geothermal PPA to date, though that claim was not independently verified.

The Cape Station project represents an expansion beyond its initial 100 MW phase. Fervo said the deal is structured to provide power at no additional cost to existing ratepayers. The company also cited Utah's SB132 as potentially enabling direct-to-load contracting options, subject to regulatory approvals.

"This agreement reinforces that EGS is ready to power the next generation of computing infrastructure," said Tim Latimer, CEO and Co-Founder of Fervo Energy.

The partnership between Fervo and Google dates to Project Red, a commercial pilot in Nevada that came online in 2023. In June 2024, the two companies signed a 115 MW PPA alongside NV Energy, connected to Nevada's Clean Transition Tariff.

"This project will drive meaningful economic benefit to the local community and help catalyze long-term energy cost reductions by making enhanced geothermal more affordable and accessible," said Michael Terrell, Head of Advanced Energy at Google.

Google is a subsidiary of Alphabet Inc.

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