Project Details
About This Project
Executive Overview
Cape Station is a 500 MW enhanced geothermal system (EGS) being developed by Fervo Energy in Beaver County, Utah (northeast of Milford, Escalante Valley), on a combination of BLM-administered federal and private lands covering approximately 631 acres, with permits in place for expansion up to 2 GW. Phase 1 (100 MW) is targeted for commercial operation in 2026; Phase 2 (400 MW additional) is targeted by 2028. Baker Hughes is supplying surface power generation equipment; Turboden (Mitsubishi Heavy Industries subsidiary) is providing 300 MW of Organic Rankine Cycle (ORC) power plants across both phases (Phase 1: 120 MWe Gen 1 ORC; Phase 2: 180 MW Gen 2 ORC in three 60 MWe units). Total project financing is approximately $650 million — the first formal project financing for next-generation geothermal in history — with lenders including RBC, HSBC, and SMBC; equity from Breakthrough Energy Catalyst ($100 million), Devon Energy (led a $244 million round), Mercuria, and Mitsubishi Heavy Industries. Fervo aims to raise up to $2 billion in project financing over the next two years. Phase 1 is fully funded, key permits secured, and construction is underway. Up to 6,600 jobs are expected during construction; 160 full-time operational jobs.
How It Works & Differentiation
Fervo's EGS adapts oil and gas horizontal drilling, multi-stage hydraulic stimulation, and distributed fibre-optic sensing to create engineered fracture networks in hot, low-permeability rock at depth. Appraisal well performance demonstrates significant drilling efficiency gains: the Sugarloaf well reached 15,765 feet at 520°F in 16 days — a 79% reduction in drilling time versus the U.S. DOE baseline. Power is generated via ORC units that convert geothermal brine heat to electricity. The site sits atop non-potable saline aquifers; BLM issued a Finding of No Significant Impact after an Environmental Assessment. An Induced Seismicity Mitigation Protocol (ISMP) is in place. The project uses up to 92 wells across 23 well pads (up to 4 production and 4 injection wells per pad), connected by a 25 kV internal distribution network and a 345 kV generation tie-line.
Commercialization & Traction
Cape Station's 500 MW is fully contracted: Southern California Edison (320 MW, two 15-year PPAs signed mid-2024), Shell Energy North America (31 MW, 15-year PPA, first Phase 1 offtaker), Clean Power Alliance (48 MW: 30 MW original + 18 MW expansion, 15-year), East Bay Community Energy (40 MW), and 20 MW across nine Southern California Community Choice Aggregators (15-year). Fervo's commercial pilot at Project Red in Churchill County, Nevada, came online in November 2023 supplying carbon-free electricity to Google's data centres, providing the operating reference for Cape Station. Cape Station is the first EGS project to close formal project financing.
Scalability & Strategic Context
Cape Station at 500 MW would represent approximately 13% of U.S. installed geothermal capacity at commissioning, a step-change for a sector that has added virtually no new capacity in a decade. The $650 million project financing establishes a bankable financial structure for EGS that other developers and lenders can reference. With permits to expand to 2 GW at the same site, and Project Blanford adding a further multi-GW resource in the same Utah geological basin, Fervo has the potential to bring more than 3 GW of firm, 24/7 clean power from a single region — more than double the current entire U.S. geothermal fleet.
Project Timeline
Fervo Energy Announces 320 MW Power Purchase Agreements with Southern California Edison
Further Reading
Fervo Energy Announces 31 MW Power Purchase Agreement with Shell Energy
Fervo Energy has announced a 15-year agreement to supply Shell Energy with 31 MW of 24/7 carbon-free geothermal power from its Cape Station project, expanding the facility's capacity to 500 MW and supporting growing demand for reliable clean energy.
Turboden selected to deliver 180 MW of Fervo’s Gen 2 ORC power plants at Cape Station in Utah
Turboden has been selected to deliver 180 MW of Fervo Energy’s next-generation Organic Rankine Cycle (ORC) power plants for Phase II of the Cape Station geothermal project in Utah, further expanding one of the world’s largest enhanced geothermal systems.
Fervo Energy signs 40 MW geothermal PPA with EBCE
Fervo Energy has signed a power purchase agreement to supply East Bay Community Energy with 40 MW of firm, 24/7 geothermal power from Nevada, marking EBCE's first geothermal PPA and supporting California's clean energy goals.
Fervo lands first offtaker for Phase 1 of Cape Station; geothermal project expands to 500 MW
Fervo Energy has secured Shell Energy North America as the first offtaker for Phase 1 of its Cape Station geothermal project in Utah, expanded the project to 500 MW, and fully contracted its capacity through multiple power purchase agreements to deliver firm, carbon-free energy starting in 2026.
Baker Hughes to supply equipment for Fervo’s Cape Station geothermal project
Baker Hughes has been contracted by Fervo Energy to supply equipment for five organic Rankine cycle power plants at the Cape Station geothermal project in Utah, which aims to produce 300MW of electricity as part of a scalable, carbon-free energy initiative.
Fervo signs 20 MW PPA with South California electricity providers
Fervo Energy has signed a 15-year, 20 MW power purchase agreement to supply 24/7 carbon-free geothermal energy from Utah to nine community choice electricity providers in Southern California, helping them meet state clean energy mandates.
Fervo to close geothermal project financing
Fervo Energy is set to close $650 million in project financing for its Cape Station project in Utah, marking the first formal project financing for next-generation superhot rock geothermal technology and supporting the development of a 500 MW enhanced geothermal system.
Fervo Energy Announces 320 MW Power Purchase Agreements with Southern California Edison
Fervo Energy announced two 15-year power purchase agreements totaling 320 MW with Southern California Edison to provide 24/7 carbon-free geothermal energy from its Cape Station project, supporting California’s transition to a cleaner energy future.
Fervo adds 18 MW to PPA for geothermal power with Clean Power Alliance
Fervo Energy has expanded its power purchase agreement with Clean Power Alliance by adding 18 MW of geothermal power, bringing the total to 48 MW to help supply clean, reliable energy to California communities starting in 2028.
Carbon Dioxide Removal (CDR) from the Atmosphere Using Enhanced Weathering of Olivine
The document presents a feasibility study for developing a geothermal energy-driven direct air carbon capture (DAC) and sequestration hub in southwest Utah, aiming to integrate clean, firm geothermal power with DAC technology to enable large-scale, cost-effective carbon removal and storage while delivering community and economic benefits.
Cape Station Geothermal Project, US
The Cape Station Geothermal Project is a 500MW enhanced geothermal system in Beaver County, Utah, developed by Fervo Energy to supply firm geothermal power to western US utilities using advanced engineered subsurface technology, with construction started in 2023 and full commissioning expected by 2028.
Cape Station
Cape Station is a large-scale, next-generation geothermal energy development by Fervo Energy in southwest Utah, aiming to deliver 500 MW of 24/7 carbon-free power and create local jobs starting in 2026.
Frequently Asked Questions
The page provides answers to common questions about Cape Station, a geothermal energy project developed by Fervo Energy, covering topics such as project development, environmental impact, regulatory approvals, community input, and economic benefits.