Fervo Energy jumps after WSJ reports Google power deal

Fervo Energy

01/09/2026 12:09

** Shares of geothermal energy developer Fervo Energy FRVO.O rise ~14% to $17.5 premarket
** Co signs deal to sell nearly 400 megawatts of electricity to Alphabet's Google from its Cape Station project in Utah, the Wall Street Journal reports
** Google has an option to expand the agreement by about 600 megawatts by June 2030, WSJ says
** Fervo is investing more than $2 billion in the Cape Station project and expects to start delivering power to the grid later this year from the project's first phase - WSJ
** Fervo plans to begin supplying power to Google in 2028 from the Utah project, the report adds
** Nearly 400-megawatt agreement is Fervo's largest-ever power deal - WSJ

 (Reporting by Varun Sahay in Bengaluru)
 ((Varun.sahay@thomsonreuters.com))