Fervo Energy has announced it secured $206 million in financing to advance its ambitious project for the largest enhanced geothermal power plant globally, located in Utah. The initial phase of Cape Station aims to generate 100 megawatts by next year, with future expansions projected to add 400 megawatts by 2028. Enhanced geothermal energy, tapping into deeper and hotter heat sources than traditional methods, is becoming a preferred choice for low-emission energy, particularly for powering AI data centers. The company recently achieved drilling success, completing its deepest well, which provides a foundation for further investments and innovations in geothermal technology.
Fervo Energy has secured $206 million in financing for the world’s largest enhanced geothermal power plant in Utah, expanding renewable energy efforts.
The startup aims to produce 100 megawatts by next year, scaling up to 500 megawatts with future expansions, providing continuous, emission-free energy.
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