Fervo now has $12B in orders for its geothermal power tech

Geothermal company Fervo couldn’t have picked a better time to deliver its first power plants. In its third-quarter earnings report, released Monday, the company said it now has $11.9 billion worth of contracted revenue on the books, up from $7.2 billion last quarter. Fervo has been hitting its deadlines recently, which undoubtedly has helped to drive orders. As hyperscalers scour the earth for electricity to power their AI data centers, Fervo is on track to complete a 396 megawatt power plant for Google by the end of 2028. The geothermal company connected its first 100 megawatt power plant to the grid earlier this year. Both projects are built at Cape Station in Utah, a resource that could generate 8.4 gigawatts of electricity. Previously, experts told Fervo the site could only…