Fervo reports $11.9 billion of contracted revenue, up from $7.2 billion the previous quarter
By Eve
In its third-quarter earnings report released Monday, geothermal company Fervo said contracted revenue has reached $11.9 billion, up from $7.2 billion last quarter. It is on track to complete a 396 megawatt plant for Google, now called Cape Google 400, by the end of 2028, after connecting its first 100 megawatt plant to the grid earlier this year. Both projects sit at Cape Station in Utah, which Fervo now says could generate 8.4 gigawatts, against earlier expert estimates of about 4 gigawatts.
Why it matters
Hyperscaler demand for firm power is pulling large contracts towards geothermal, and the grid connected structure lets Google resell power it is not yet ready to use. For CPOs and developers, it signals growing competition for grid capacity and power supply tied to AI data centres, alongside a phased build model that can deliver power ahead of load.
Source
- Original title
- “Fervo now has $12B in orders for its geothermal power tech”
- Published
- 9 November 2026
- Updated
- 10 November 2026
In this story
- Topic
- Grid & Energy
- Place
- United States
- Tag
- Fervo
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