Fervo Energy Co Form 8-K — Nov 9, 2026
Fervo Energy reported Q3 2026 results headlined by commercial operation at Cape Station Phase I GeoBlock 1 (33 MW) reached ahead of its contractual date on September 30, with GeoBlocks 2 and 3 on track for commercial operation by January 1, 2027. The company also signed what it believes is the largest enhanced geothermal PPA to date with Google: a 15-year, take-or-pay contract for 396 MW with first power expected mid-2028, plus an option for Google to expand offtake by ~600 MW toward nearly 1 GW total. Binding PPAs now total 1,054 MW representing approximately $11.9 billion in contracted revenue, up from $7.2 billion at the end of Q2.
Key figures
- Revenue
- $116 thousand (Q3 2026)
- Guidance
- Q4 2026 capex of $450-500 million; H2 2026 capex of $700-750 million (down from prior $850-900 million); Q4 2026 revenue in line with prior expectations as first full quarter of Cape Station revenue; 2027 revenue outlook unchanged
- Total Debt
- 301600000
- Total Assets
- 3638547000
- Cash Position
- 1900000000
- Capex q3
- $256.7 million
- Google ppa mw
- 396
- Operating loss q3
- $43.7 million
- Contracted revenue
- $11.9 billion
- Doe awards potential
- $20.0 million
- Contracted capacity mw
- 1054
- Geo block 1 capacity mw
- 33
- Capacity in operation mw
- 36
- Google expansion option mw
- approximately 600
- Cape station hiip potential
- 8.4 GW (up from 4.3 GW)
- Geo block 1 in service cost
- $514.3 million transferred to PP&E
- Net loss attributable common
- $20.8 million
- Capacity under construction mw
- 466
- Cape google 400 target cost per kw
- $5,500
- Installed cost per kw geo blocks 1 3
- $7,000
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