Google Signs Largest Enhanced Geothermal Power Deal with Fervo Energy
Fervo Energy (FRVO), a publicly traded geothermal company since May 2026, has signed the largest enhanced geothermal power purchase agreement ever recorded. The deal involves supplying up to 1 gigawatt of electricity from its Cape Station project in Utah to Google beginning as early as 2028. This partnership aims to provide reliable and clean energy for AI-driven data centers amid growing demand. The collaboration between Fervo Energy and Alphabet-owned Google started in 2021, with the tech giant seeking stable power sources due to limitations of solar and wind energy. Enhanced geothermal systems offer a scalable solution by utilizing hot rock rather than natural steam reservoirs. The deal significantly boosts Fervo's revenue backlog from $7.2 billion to over $9 billion. Fervo Energy is still in its early stages, reporting significant losses and high capital expenditures for Cape Station development. However, the Google agreement validates its business model and could facilitate future financing and contracts.
Topics: clean energy data centers geothermal energy tech partnerships