# Fervo’s contracted revenue reaches $11.9bn as demand for geothermal power grows

- URL: https://talkfuse.com/story/fervo-now-has-12b-in-orders-for-its-geothermal-power-tech/
- Published: 2026-11-09T20:55:34+00:00
- Updated: 2026-11-10T04:29:21+00:00
- Original publisher: TechCrunch
- Original article: https://techcrunch.com/2026/11/09/fervo-now-has-12b-in-orders-for-its-geothermal-power-tech/
- Topics: Business, Companies

## Key points

- Fervo reports $11.9 billion in contracted revenue.
- Its Google geothermal plant is planned at 396 megawatts.
- Fervo aims to lower construction costs to $3,000 per kilowatt.

## Summary

Fervo Energy said its contracted revenue rose to $11.9 billion in the third quarter, up from $7.2 billion the previous quarter, as demand grows for electricity to power data centres. The geothermal company’s progress at its Utah site and its ability to bring capacity online in stages could help it supply large technology companies while their projects are still being built.

Fervo connected its first 100-megawatt plant to the grid earlier this year and plans to complete a 396-megawatt plant for Google by the end of 2028. Its Cape Station site may support 8.4 gigawatts, double earlier expert estimates; newer GeoBlocks have reached 50 megawatts. Fervo reported a $43.7 million operating loss, with $1.9 billion in cash and cash equivalents, and says project costs fell from $7,000 to $5,500 per kilowatt; its long-term target is $3,000.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.