Google commits to buying 400 MW of geothermal energy from Fervo for Utah data center
Geothermal company Fervo Energy announced that Google has signed a power purchase agreement (PPA) to buy 396 megawatts of electricity from its Cape Station project in Utah, with an option to acquire up to 600 additional megawatts by June 2030. The energy will support a new data center and is expected to come online in 2028. This deal aligns with Google’s broader strategy to secure clean energy sources as it works toward its net-zero emissions goal. The Cape Station project, which uses enhanced geothermal technology, has the potential to generate up to four gigawatts of electricity—doubling U.S. geothermal capacity if fully developed. Fervo and Google have a long-standing partnership that includes prior investments from Google in Fervo’s funding rounds before its public listing. News of this deal caused Fervo's stock price to rise by about 30% on the day it was announced, though recent months had seen declines following mixed market reactions.
Topics: Clean energy Geothermal energy Google data centers Net-zero emissions Power purchase agreement (PPA)