Geothermal Revolution Ignites: Can Fervo’s $206M Power Plant Redefine Clean Energy?

MILFORD, Utah, June 12, 2025— Fervo Energy’s $206 million financing haul is fueling Cape Station, set to be the world’s largest enhanced geothermal plant, delivering 100 MW of clean power by 2026 and 500 MW by 2028. Is this Utah project the blueprint for a carbon-free future?

Record-Breaking Power from Earth’s Core

Cape Station, in Beaver County, Utah, smashed expectations with a 30-day well test hitting 107 kg/s at over 428°F, yielding 10 MW per well, triple the output of Fervo’s Nevada pilot. The National Renewable Energy Laboratory didn’t expect this until 2035.

With 500 MW fully contracted to Southern California Edison and Clean Power Alliance, the project promises 24/7 carbon-free energy. Fervo’s advanced drilling tech is unlocking Utah’s 10 GW geothermal potential.

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$206M Fuels a Green Powerhouse

Breakthrough Energy Catalyst’s $100M investment, backed by Bill Gates, headlines Fervo’s funding, joined by Mercuria’s $100M loan and XRA’s $145.6M. “Cape Station sets the foundation for a model that can be repeated worldwide,” says Mario Fernandez of Catalyst.

The company will drill 21 horizontal wells and eight vertical ones, scaling up to 2 GW if fully developed. This financial vote of confidence signals geothermal’s commercial readiness.

Utah’s Energy Renaissance

Located near Utah FORGE, Cape Station leverages cutting-edge research and oil industry techniques like hydroshearing to tap hot rock reservoirs. The project will create 6,600 construction jobs and 160 permanent roles, injecting $437M in wages into Beaver County. “Fervo’s commitment to our community is a game-changer,” says Milford Mayor Nolan Davis. With BLM permits secured, construction is surging ahead for a 2026 grid debut.

Did you know?
Fervo’s Cape Station wells, drilled 8,000 feet deep and 5,000 feet horizontally, use fracking techniques from the oil industry to unlock heat trapped in solid granite since Earth’s formation.

A New Era for Clean Energy

Fervo’s success at Cape Station, building on its Nevada Project Red, proves enhanced geothermal can rival nuclear for reliable, zero-carbon power. With tech giants like Google demanding constant energy for AI and California mandating non-intermittent renewables, Fervo’s model could scale nationwide, potentially hitting 100 GW by 2050.

As fossil fuels fade, Cape Station’s rise marks a pivotal shift. Can geothermal power lead the charge to a decarbonized grid?