Fervo Energy is set to complete the first commercial-scale enhanced geothermal power plant in the United States later this year. It won’t be its last.
The Houston-based startup filed for its long-awaited initial public offering last Friday, and the document offers a more concrete look into the company’s long-term ambitions.
Fervo has a total of 3.65 gigawatts of power plant capacity that are under construction, ready to build, or in advanced stages of development, according to newly disclosed details in the filing. If built as planned, those projects would nearly double the current installed capacity of geothermal projects in the United States.
That development figure includes the Cape Station project, in Beaver County, Utah, which broke ground in 2023 and is on track to produce its first power in late 2026. A total of 500 megawatts are under construction at the site, though Fervo says it has permits in place to build an additional 1.5 GW on the premises and could scale up even further.
It also includes a “shovel-ready” 150-MW development at a site in Nevada, which Fervo aims to bring online by 2030 as part of a deal to supply electricity to Google and the utility NV Energy.
