Fervo Significantly Increases Contracted Revenue to $11.9 Billion, Advances 396 MW Geothermal Power Plant for Google

Fervo Significantly Increases Contracted Revenue to $11.9 Billion, Advances 396 MW Geothermal Power Plant for Google

2026-11-09 20:58View Original

According to Fervo's Q3 financial report, signed revenue has increased to $11.9 billion, up from $7.2 billion in the previous quarter. The company plans to complete its 396 MW power plant for Google by end-2028; the project is located at Cape Station in Utah, where geothermal resources are estimated to generate up to 8.4 GW.

Fervo has already connected its first 100 MW plant to the grid this year. The company states that the generation capacity of its new GeoBlock plants has risen from 33 MW in the initial project to 50 MW in recent deployments, enabling phased commissioning as construction progresses, aligning with data center power demand. The capital cost for the first phase of Cape Station is $7,000 per kW, while the Google project has reduced it to $5,500 per kW; the company’s long-term target is $3,000 per kW.

Disclaimer: Contains third-party opinions, does not constitute financial advice

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