Accelerating Carbon Abatement

Enhanced geothermal company Fervo Energy has signed a 396-megawatt power purchase agreement with Google, the largest geothermal PPA to date, with Google planning to use the power as a foundational building block for a potential data center in Utah and an option to expand offtake to nearly one gigawatt by June 2030. The deal supports continued development of Fervo's Cape Station enhanced geothermal project in southwestern Utah, expected to come online in 2028, and financial services firm William Blair said it increases contracted revenue across Fervo's portfolio by roughly 65% while reinforcing the view that geothermal can deliver firm, dispatchable power for AI data centers. Analysts noted that despite Fervo's stock struggling since its May IPO and near-term transmission-related curtailment issues, baseload power remains scarce, making the company a relatively inexpensive way for investors to gain exposure, though key risks include first-of-a-kind execution, interconnection bottlenecks, and capital intensity… Click below to read more