Fervo Energy said on November 9 that GeoBlock 1 at its Cape Station project in Utah, a 33-megawatt unit, declared commercial operation on September 30, ahead of its contractual date, and is delivering power under its purchase agreement in line with expectations. GeoBlock 2 has reached grid sync and GeoBlock 3 is mechanically complete, and both remain on schedule to enter commercial operation by January 1, 2027, completing Cape Station Phase I.
The larger news is the customer. Fervo signed a 15-year, grid-connected, take-or-pay agreement to supply Google with 396 megawatts from eight further GeoBlocks, with first power expected in mid-2028 and full capacity targeted by the end of 2028, and committed to offer Google an option to expand by about 600 megawatts more, for a total of nearly a gigawatt. With the signing, Fervo has 1,054 megawatts under binding power purchase agreements, representing about 11.9 billion dollars in contracted revenue, and it ended the third quarter with 1.9 billion dollars in unrestricted cash.