Google and Fervo Energy Sign 396-MW Geothermal Power Purchase Agreement

Fervo Energy announced a 396-megawatt (MW) power purchase agreement (PPA) with Google to supply carbon-free electricity from the Cape Station enhanced geothermal systems (EGS) GeoCluster in southwestern Utah. The agreement includes an option for Google to expand its offtake by roughly 600 MW, potentially reaching nearly 1 gigawatt (GW) by June 2030. Commercial operations at Cape Station are expected to begin in 2028, and the first phase is slated to start delivering power to the grid later this year.

Fervo Energy Inks Landmark 396-MW Geothermal Deal With Google, Stock Surges — BigGo Finance Google, Fervo Energy Sign 396-MW Agreement – tEDmag

The partnership builds on earlier projects. In 2023, Fervo’s 3-MW “Project Red” pilot in Nevada delivered geothermal power to Google’s data centers. A 115-MW PPA with Google and NV Energy followed in June 2024, pioneering Nevada’s Clean Transition Tariff. In March 2026 the companies signed a non-binding Geothermal Framework Agreement outlining a path to up to 3 GW of geothermal capacity by 2033, with roughly 1 GW targeted for the first two years. The Cape Station deal is the first binding contract emerging from that framework.

Fervo Energy Inks Landmark 396-MW Geothermal Deal With Google, Stock Surges — BigGo Finance Google, Fervo Energy Sign 396-MW Agreement – tEDmag

• 396 MW initial PPA, with an optional expansion of ~600 MW (?1 GW total).

Fervo Energy Inks Landmark 396-MW Geothermal Deal With Google, Stock Surges — BigGo Finance

• Development cost exceeds $2 billion, aimed at creating the world’s largest enhanced geothermal facility.

Fervo Energy Inks Landmark 396-MW Geothermal Deal With Google, Stock Surges — BigGo Finance

• First phase to feed the grid later this year; full commercial output anticipated in 2028.

Fervo Energy Inks Landmark 396-MW Geothermal Deal With Google, Stock Surges — BigGo Finance

• Fervo’s share price rose about 15 % after the announcement, recovering from a 58 % decline since its May market debut.

Fervo Energy Inks Landmark 396-MW Geothermal Deal With Google, Stock Surges — BigGo Finance

Google’s advanced-energy team highlighted the need for scalable, reliable power to support expanding data-center operations. Both companies framed the deal as a step toward broader adoption of EGS technology.

Google, Fervo Energy Sign 396-MW Agreement – tEDmag

• “This agreement reinforces that EGS is ready to power the next generation of computing infrastructure,” — Tim Latimer, CEO and Co-Founder of Fervo Energy

Google, Fervo Energy Sign 396-MW Agreement – tEDmag

• “The next chapter of advanced power generation technology is being written in Utah,” — Michael Terrell, Head of Advanced Energy at Google

Google, Fervo Energy Sign 396-MW Agreement – tEDmag