Fervo Energy Signs Record Deal With Google for Carbon-Free Electricity
Fervo Energy (FRVO) made significant waves in the pre-market trading session after announcing its largest-ever power agreement with Alphabet's Google. The partnership marks a major milestone for Fervo, which has been working to meet growing demand for reliable electricity.
The deal involves Google purchasing 396 megawatts of carbon-free electricity from Fervo's Cape Station project in southwestern Utah. This capacity is expected to come online by 2028 and could support a new Google data center in the state. The agreement also includes an option for Google to add roughly 600 MW by June 2030, potentially expanding the deal to nearly 1 GW.
This marks a significant expansion of Fervo's partnership with Google, which began with a smaller project in Nevada in 2023. Fervo's CEO, Tim Latimer, highlighted the importance of this agreement, stating that 'As demand for reliable electricity grows, customers like Google need energy resources that can be deployed at scale, operate around the clock, and deliver where power is needed.'
Fervo has estimated total capital expenditures of around $850 million to $900 million in the second half of 2026. The stock has seen a significant increase in retail sentiment, with users on Stocktwits turning 'extremely bullish' from 'bullish' over the past 24 hours.