Home / Business and Economy / Google Bets Big on Geothermal Power in Utah
Google Bets Big on Geothermal Power in Utah
2 Sep
Summary
- Google will buy nearly half a gigawatt of electricity from Fervo.
- The power purchase agreement is for Fervo's Cape Station plant in Utah.
- The deal supports Google's net-zero emissions goal and AI ambitions.
Geothermal energy company Fervo has secured a substantial agreement with Google, which will purchase nearly half a gigawatt of electricity to power a new data center in Utah. This power purchase agreement, announced on Tuesday, commits Google to buying 396 megawatts from Fervo's Cape Station plant, expected to begin operations in 2028. Google also holds an option to acquire an additional 600 megawatts by June 2030.
This agreement arrives as major technology companies like Google actively seek new electricity sources to meet their ambitious sustainability goals. Google has been a significant buyer of clean energy, aiming for net-zero emissions by 2030. The Fervo deal is seen as a crucial step in powering its AI advancements without jeopardizing its environmental targets. Fervo's Cape Station site has the potential for significant geothermal development, with estimates suggesting it could generate up to 4 gigawatts, potentially doubling the U.S.'s current geothermal capacity.
The partnership between Fervo and Google extends over five years, with Google having previously invested in Fervo. The recent news of the Google deal caused Fervo's stock to surge significantly.
