Fervo Energy has secured the largest enhanced geothermal system contract on record, agreeing to deliver close to 400 megawatts of round-the-clock power to Google from a Utah project that could reshape how the technology attracts investment.<\/p>\n
The deal is built around EGS technology, which unlocks heat from deep dry rock formations rather than relying on naturally occurring hydrothermal resources. It advances a partnership the two companies began in 2021 with a 3.5 MW Nevada pilot, followed by a 115 MW agreement with NV Energy for Nevada data centers. The Utah commitment is on a different order of magnitude.<\/p>\n
Cape Station, the Utah facility, will be developed in two phases. The first targets 100 MW, with a 33 MW test run expected before year-end. The larger 400 MW tranche is planned roughly two years after that. Google is weighing the supply for a future Utah data center; the company’s director of advanced energy technologies, Lucia Tian, described the generation as a foundation for its regional presence.<\/p>\n
The agreement also gives Google an option to add approximately 600 MW of additional purchases by mid-2030 and a right of first refusal on up to 3 GW from Fervo’s future plants. Fervo plans to invest more than $2 billion toward what could become the world’s largest EGS installation by 2028. Its shares rose 15% following the announcement. The company’s COO put target capital costs at $7,000 per kilowatt in phase one and $5,500 per kilowatt in phase two.<\/p>\n
Geothermal currently supplies just 0.4% of US electricity, limited by where conventional resources exist. EGS sidesteps those constraints, though financing early projects without guaranteed offtake has been challenging. CEO Tim Latimer has noted that customers requiring 24\/7, scalable supply are the critical ingredient for the technology to grow \u2014 precisely what this contract delivers.<\/p>\n