Google, CalSTRS, Others Back $462M Funding Round for Geothermal Plant

Google, CalSTRS, others back $462M funding round for geothermal plant

The funding will support Fervo’s 500-megawatt geothermal power plant in Utah, expected to be the “world’s largest next-generation geothermal development.”

U.S. Geothermal Boom: Fervo Energy Leads with $462M Funding for Cape Station Project

Next-generation geothermal energy is moving from the margins to the center of the clean power conversation. Analysts say technology improvements and rising demand for 24/7 clean electricity are opening the door for geothermal to scale in ways that were not possible before. Annick Adjei, senior research analyst for upstream and subsurface carbon management at Wood Mackenzie, summed it up clearly. She said next-gen geothermal was “fundamentally ch…