Fervo Energy, a company specializing in geothermal development, has executed a 15-year power-purchase agreement with Shell Energy North America, representing 31 megawatts of 24/7 carbon-free geothermal power.
Shell Energy plans to use the power purchased under the agreement to serve its retail load customers, beginning in 2026.
Cape Station, Fervo’s flagship geothermal development in Beaver County, Utah, is the world’s largest enhanced geothermal systems (EGS) development. The agreement makes Shell Energy the first offtaker to receive electrons from Phase I of the project. The agreement also marks the official upsizing of Cape Station from 400 megawatts to 500 megawatts due to new innovations that significantly improved the project’s efficiency and economics. This has allowed for a 100-megawatt capacity increase without the need for additional drilling.
With this agreement, 500 megawatts of capacity at Fervo’s Cape Station are fully contracted, underscor
