Fervo Energy, Google Ink 396 MW Power Purchase Agreement; Fervo Up Over 13% In Pre-Market
(RTTNews) - Fervo Energy (FRVO), a geothermal energy company, said on Tuesday it has inked a 396-megawatt, or MW, power purchase agreement with Google to enable the continued development of the Cape Station enhanced geothermal systems, GeoCluster, expected to come online in 2028.
(RTTNews) - Fervo Energy (FRVO), a geothermal energy company, said on Tuesday it has inked a 396-megawatt, or MW, power purchase agreement with Google to enable the continued development of the Cape Station enhanced geothermal systems, GeoCluster, expected to come online in 2028.
BELLINGS Intelligence Score: 18
Why it matters
The 396 MW power purchase agreement between Fervo Energy and Google represents a notable commercial transaction in renewable energy but does not materially affect credit markets or broader financial conditions.
Sources
Nasdaq
Fervo Energy, Google Ink 396 MW Power Purchase Agreement; Fervo Up Over 13% In Pre-Market
(RTTNews) - Fervo Energy (FRVO), a geothermal energy company, said on Tuesday it has inked a 396-megawatt, or MW, power purchase agreement with Google to enable the continued development of the Cape Station enhanced geothermal systems, GeoCluster, expected to come online in 2028.
Nasdaq
Stock Market Today, Sept. 1: Fervo Energy Surges 28% on 396-Megawatt Google Power Deal
Fervo Energy (NASDAQ:FRVO), an enhanced geothermal power developer and independent power producer, closed at $19.75, up 28.41%. Pre-market, the company said it signed a 396-megawatt power purchase agreement with Alphabet's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, and investors are wa