Fervo and Google sign the world's largest next-gen geothermal deal
Fervo Energy and Google signed a power purchase agreement for nearly 400 MW of enhanced geothermal energy from Cape Station in southwest Utah. It is the largest deal of its kind. Fervo is investing more than $2 billion in the project. A 33 MW unit is expected to generate test power in Q4 2026, with full capacity expected in 2028. Geothermal supplies 0.4% of U.S. electricity. Google can expand the agreement by roughly 600 MW by June 2030 and has first refusal on up to 3 GW from future Fervo projects. Fervo went public in May 2026. Its stock rose 15% after the announcement.Fervo Energy and Google signed a power purchase agreement for nearly 400 MW of enhanced geothermal energy from Cape Station in southwest Utah. It is the largest deal of its kind. Fervo is investing more than $2 billion in the project. A 33 MW unit is expected to generate test power in Q4 2026, with full capacity expected in 2028. Geothermal supplies 0.4% of U.S. electricity. Google can expand the agreement by roughly 600 MW by June 2030 and has first refusal on up to 3 GW from future Fervo projects. Fervo went public in May 2026. Its stock rose 15% after the announcement.Expert summary pending. Showing the newcomer version.