Fervo Energy and Google Sign 396 MW Geothermal PPA | energynews.pro

Fervo Energy and Google agreed to a 396 MW geothermal power purchase agreement for a Utah project, with an option to expand to 1 GW by 2030. The energy will support a potential Google data center, with phase 1 targeting 100 MW by 2026/2027. The deal aims to provide 24/7 carbon-free electricity without cost to existing ratepayers, creating over 200 construction jobs.

Fervo Energy (FRVO) shares rose 28.41% to $19.75 after signing a 396-MW power deal with Google (GOOG, GOOGL). The agreement, with potential expansion to 600 MW, will supply Google's data center starting 2028. Trading volume surged 851% above average. Fervo's market cap is $5.8B. Ormat (ORA) and NextEra (NEE) also gained.

Fervo Energy's (FRVO) stock surged 28.41% after signing a 396 MW power purchase agreement with Alphabet's (GOOGL) Google to supply carbon-free energy for a data center in Utah. The deal includes an option for Google to buy an additional 600 MW by 2030, with the project expected to go online in 2028. Fervo's CEO highlighted the growing demand for reliable electricity.

Fervo Energy (FRVO) stock rose 19.8% to $19.75 on September 1, 2026, after Google agreed to buy 396 MW from its Cape Station project. Trading volume surged to 35.1 million shares. The stock's RSI14 is neutral at 50.17 daily but overbought at 78.27 hourly, suggesting potential near-term pullback.

Fervo Energy (FRVO) stock surged 23% to above $19 after announcing a 396 MW power purchase agreement with Google for carbon-free electricity. The deal, expected to come online in 2028, could reach nearly 1 GW with additional capacity. While the agreement strengthens Fervo's growth outlook, risks include construction and regulatory challenges. The stock's rebound follows a decline from above $40 in May to below $15.

Fervo Energy (FRVO) shares rose 28% after announcing a 396-MW power deal with Google, its largest contract. RBC Capital noted the deal arrived sooner than expected and maintained an Outperform rating with a $46 price target. The agreement involves supplying clean power from Fervo's Utah project, with first deliveries targeted for 2028.