Fervo signs 396-MW geothermal power supply deal with Google; shares jump

Sept 1 : Geothermal developer Fervo Energy said on Tuesday it had signed a deal to supply 396 megawatts of geothermal power to Alphabet's Google from its Cape Station project in Utah, sending its shares up nearly 14 per cent in premarket trading.The deal highlights growing interest from large power consumers in securing around-the-clock clean energy supplies, as rising electricity demand from data centers drives investment in new generation capacity across the U.S.Here are more details:• The agreement gives Google an option to increase its power purchases by about 600 MW, bringing total potential capacity under the arrangement to nearly 1 gigawatt by June 2030, Fervo said. • In 2024, Fervo signed a 115-MW power purchase agreement with Google and NV Energy, helping bring additional geotherm