Google Signs Largest Enhanced Geothermal Power Deal with Fervo Energy
Fervo Energy (NASDAQ:FRVO), a publicly traded geothermal company since May 2026, has signed the largest enhanced geothermal power purchase agreement in history with Alphabet-owned Google. The deal involves supplying up to 1 gigawatt of electricity starting from its Cape Station project in Utah by mid-2030. This partnership aims to provide reliable and clean energy for future data centers amid rising demand driven by AI expansion. The agreement validates Fervo's enhanced geothermal technology, which does not rely on natural steam reservoirs but instead taps into hot rock through drilling. Google has been working with Fervo since 2021 to develop this next-generation project and is now securing power before finalizing data center locations due to grid constraints. Fervo reported a $55.9 million net loss in its first quarter as a public company, but the deal significantly boosts its revenue backlog from existing contracts of around $7.2 billion.
Topics: clean power data centers geothermal energy tech partnerships