Fervo Energy hits $11.9B contracted revenue, lands Google 396MW plant
Business
Fervo Energy just hit a big milestone: orders for its geothermal technology jumped to $11.9 billion worth of contracted revenue on the books, up from $7.2 billion last quarter.
The spike comes as Fervo keeps delivering sustainable energy projects for major data centers, including a huge 396-megawatt plant for Google that's set to be ready by 2028.
Fervo's Cape Station doubles output
Fervo's Cape Station site in Utah is now more than grid-connected and has more than doubled its potential output thanks to deeper wells and new GeoBlock tech.
The company is also cutting costs fast: the first phase of Cape Station's price per kilowatt was $7,000, while the Google project's is $5,500, with a long-term goal of reaching $3,000 per kilowatt.