Data center energy stories

Sep 1, 2026

Fervo Energy signs 396 MW geothermal power deal with Google for Utah data center

Geothermal developer Fervo Energy secured a contract to supply 396 megawatts of clean power to Google from its Cape Station project in Utah starting in 2028, with an option for an additional 600 MW by 2030. The deal sent Fervo's shares up approximately 14-15%.

Sep 1, 20264 sources

Top claims

▪Fervo Energy completed its initial public offering in May 2026, raising over $2 billion after previously securing $462 million in private capital from backers including Google and Breakthrough Energy Ventures.
▪The nearly 1-gigawatt potential capacity of the Fervo-Google contract is roughly equivalent to the European Union's entire installed net geothermal electricity capacity of about 1 gigawatt in 2022.
▪Fervo Energy shares rose between 14% and 25% in trading on September 1, 2026, following the announcement of the geothermal power contract with Google.

Subtopics

Renewable energy Geothermal energy Energy transition Compute, chips & AI infrastructure

Related timelines