Fervo Energy Secures Deal with Google for Geothermal Power Supply
Bill Gates-backed Fervo Energy has signed a deal to supply nearly 400 megawatts of geothermal power to Google, supporting the tech giant's potential data center in Utah. The energy will be sourced from Fervo’s Cape Station project and delivered starting in 2028. Using fracking techniques adapted for clean-energy production, Fervo is capitalizing on growing demand for reliable renewable electricity driven by AI-driven data center expansion. The deal highlights the increasing importance of stable power sources as companies like Google scale their infrastructure to meet rising computational needs. While shares of Fervo Energy rose 28% following the announcement, they remain down significantly since its May IPO due to concerns over valuation and operational challenges such as transmission constraints in the West.
Topics: AI infrastructure clean tech data centers geothermal energy