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Fervo Signs 396-MW Geothermal Power Supply Deal with Google; Shares Jump
Google can expand purchases by about 600 MW, bringing total potential capacity to nearly 1 gigawatt by June 2030, Fervo said.
- On Tuesday, Fervo Energy signed a deal to supply 396 megawatts of geothermal power to Google from its Cape Station project in Utah, sending shares up nearly 14 per cent in premarket trading.
- The agreement builds on an existing partnership from Project Red in Nevada, where Fervo CEO and co-founder Tim Latimer said, "This agreement reinforces that EGS is ready to power the next generation of computing infrastructure."
- Under the agreement, Google holds an option to increase power purchases by about 600 MW, bringing total potential capacity to nearly 1 gigawatt by June 2030, Fervo said.
- Lucia Tian, Google's director of advanced energy technologies, told The Wall Street Journal the company lacks clarity on the data center's Utah location, though "it will be a foundational building block of power generation for a data center presence in Utah."
- Fervo's total contracted capacity now stands at around 1,000 megawatts, with Shell and Southern California Edison among other buyers, reflecting rising electricity demand from data centers driving investment in new generation capacity across the U.S.
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33 Articles
Coverage Details
Total News Sources33
Leaning Left6Leaning Right6Center8Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 30%
C 40%
R 30%
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