WASHINGTON (dpa-AFX) - Fervo Energy (FRVO), a geothermal energy company, said on Tuesday it has inked a 396-megawatt, or MW, power purchase agreement with Google to enable the continued development of the Cape Station enhanced geothermal systems, GeoCluster, expected to come online in 2028.
Under the deal, Google will purchase carbon-free energy to serve as a foundational building block for a potential data center in Utah. Fervo will offer Google an option to expand its offtake by around 600 MW, for a total of nearly 1 GW, by June 2030.
'Power purchase agreement marks world's largest enhanced geothermal PPA to date and is expected to accelerate the delivery of 24/7, carbon-free power from the Cape Station GeoCluster in Utah,' Fervo Energy said.
This deal is part of the ongoing expansion of Cape Station beyond its initial 100 MW phase as Fervo further scales its operations.
FRVO was up by 13.76% at $17.50 in the pre-market trade on the Nasdaq.
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