Cape Station Phase II

CONSTRUCTIONSAVE + ADD TO THESIS

Fervo Energy · Beaver County, UT · Utah DEVELOPER HEALTHHEALTHY

Eight 50 MW GeoBlocks; guided all-in cost about $5,500/kW (target $3,000/kW long term).

Geothermal · Next-generation geothermal SEE CONNECTIONS →

ANNOUNCED
DEVELOPMENT
PERMITTED
FINANCED
CONSTRUCTION
OPERATING

Power

400 MW

Geothermal · Scaling

Storage

—

energy capacity

Online

2028

approximate target

Capital committed

—

closed or awarded

Capital pending

—

conditional or under review

How it works

Enhanced (EGS)

Where rock is hot but dry, drill down and then sideways, crack the rock open between two wells, pump water down one and bring it up hot through the other. Borrowed from oil-and-gas drilling, so it can work in many more places.

OPEN IN 3D →

Others on this approach

Capital stack

1 SOURCES

Company equity · Fervo Energy IPO (Nasdaq: FRVO)COMPANY-WIDE · NOT IN PROJECT TOTALCompany-level; funds Phase II and the wider pipeline, not ring-fenced to this projectCLOSED · 2026-05-14 · fervoenergy.com$2.2B

Milestones

Sep 2, 2026396 MW PPA with Google signed
Sep 2, 2026Google and Fervo also sign a non-binding 3 GW framework covering Fervo's wider pipeline
2028 · APPROXIMATE TARGETPhase II online (target)

Grid, permits and build

LOADING…

Cape Station Phase II

Enhanced (EGS)

Capital stack

Milestones

Grid, permits and build

Cape Station Phase II

Enhanced (EGS)

Capital stack

Milestones

Grid, permits and build

Who buys and who finances

Exposed to

Dependencies

Related

More from Fervo Energy

Sources