Just a week after achieving first power at its Cape Station in Beaver County, Utah, Fervo Energy has declared that the facility has reached commercial operation.
The company said it marked the first greenfield enhanced geothermal development in the world to achieve contractual commercial operations.
“Reaching commercial operations at Cape Station is both a huge milestone for Fervo, and a turning point for the entire energy industry,” said Tim Latimer, CEO and Co-Founder of Fervo Energy.
“No team has ever built a project like this anywhere in the world, and we did it ahead of schedule. We are excited to prove that Fervo Energy can bring a new track record of execution to the power sector, an industry where project delays are often the norm.”
The milestone marks a pivotal moment for the company and for the broader geothermal industry, demonstrating that enhanced geothermal systems (EGS) can deliver reliable, 24/7 carbon-free electricity at commercial scale on an industry-leading timeline.
Cape Station synchronised to the grid on 24th September and declared commercial operation just six days later on 30th September.
Revenue is now being generated under Fervo’s power purchase agreement.
“This is a defining moment at Fervo and it’s one we’re proud to deliver ahead of schedule,” said David Ulrey, CFO of Fervo Energy.
The company built and commissioned the power facility for its first GeoBlock in just 23 months.
As Fervo applies lessons learned across its growing pipeline, the company sees substantial opportunity to compress this timeline further and is confident in its ability to reach an 18-month construction timeline for future GeoBlocks.
“With over 1 gigawatt of binding PPAs signed across our portfolio, the commercial operation date (COD) of this first GeoBlock is the beginning of our build into a durable base of predictable, long-term revenue generation,” added Ulrey.
“We remain focused on disciplined capital execution as we bring the remaining Phase I GeoBlocks online and advance Phase II toward its 2028 COD.”
Cape Station’s Phase I comprises approximately 100MW across three 33MW GeoBlocks.
Commissioning continues at the remaining two Phase I GeoBlocks, which are expected to reach contractual COD by January 1, 2027.
The next phase, an additional 400 MW, is already under construction, with an expected COD in 2028.
“Getting our first GeoBlock to commercial operation reflects the strength of our execution and the discipline of our team on the ground,” said Dawn Owens, SVP, Head of Development & Commercial Markets at Fervo Energy.
“We are on track to bring the remaining Phase I GeoBlocks online by January 1, 2027. Every GeoBlock we bring online makes the next one faster and more predictable, and that repeatability is the foundation of how we scale and bring down costs.”
As Phase I comes online and Phase II advances toward its 2028 COD, Fervo expects Cape Station’s contracted capacity to translate into a growing, long-term revenue stream underpinned by multi-year offtake agreements.