Houston-based geothermal energy startup Fervo Energy has secured two 15-year power purchase agreements (PPAs) with Southern California Edison (SCE) to supply geothermal energy to approximately 350,000 homes in Southern California. The agreements entail 320 megawatts of geothermal energy from Fervo’s Utah-based Cape Station, currently under construction, with the first segment of 70 megawatts coming online in 2026 and an additional 250 megawatts commencing in 2028. Despite geothermal energy constituting only 0.4% of the U.S. energy mix, Fervo implements advanced drilling technologies to make it a commercially viable energy source. The company, co-founded in 2017 by Tim Latimer and Jack Norbeck, notably integrates hydraulic fracturing techniques borrowed from the oil and gas sector to access geothermal energy. Amid environmental concerns around fracking, Fervo assures lesser contamination risks and comprehensive seismicity mitigation plans. Furthermore, the startup has recently struck a deal with Google to supply 115 megawatts of geothermal energy to power a data center in Nevada.

Renewable Energy, Technology, Oil and Gas,United States, California, Utah, Nevada

https://www.inc.com/chloe-aiello/this-startup-just-scored-a-hot-deal-to-supply-geothermal-energy-to-california.html