Fervo Energy Enhanced Geothermal Power Plant

under construction

Fervo Energy is developing an enhanced geothermal power plant near Milford, Utah, using technology that mimics fossil fuel fracking techniques to tap the Earth's heat for energy. The project involves drilling multiple wells connected underground to pump cold water to absorb heat and generate electricity. The company is currently constructing the first phase of the plant, which includes three well pads with eight wells each, and has secured a $421 million debt package to complete construction. Fervo is targeting an initial public offering later in 2026 and aims to provide uninterrupted and emissions-free power to customers who have already lined up to purchase all the electricity produced.