Google Pours $10bn Firm Fervo into Geothermal Power Play

Google has signed a Power Purchase Agreement (PPA) with Fervo Energy for 396MW of power from its Cape Station geothermal plant in Utah. The plant, currently under construction, is expected to come online in 2028 and have a capacity of 500MW, with the potential to expand to over 1GW.

The PPA also includes an option to expand Google's offtake to 996MW by June 2030. According to Fervo Energy's CEO Tim Latimer, this deal 'reinforces that EGS is ready to power the next generation of computing infrastructure.'

This partnership builds on a previous agreement between the two companies in Nevada, where Google invested directly in Fervo and led its Series B funding round last year. The company successfully raised $462m, and Fervo recently completed its initial public offering, valuing it at $10bn.