FERVO ENERGY CO. A O.N.

Fervo Energy has signed a power purchase agreement with Google for about 396 megawatts from a geothermal project in Utah that is expected to come online in 2028. Google can expand the agreement by roughly 600 megawatts to about one gigawatt until June 2030. The news pushed Fervo’s share price up intraday by as much as 28 percent, but the stock remains speculative and dependent on permits, technical feasibility and commercial terms. The long-term significance of the deal depends on whether the project is completed on schedule and the expansion option is exercised. » Más en deraktionaer.de

US indices are expected to open with further losses, pressured by rising oil prices and growing inflation and rate concerns. Markets are already pricing in a possible Fed rate hike as early as September, and attention turns to the US jobs report over the weekend. Among individual stocks, Fervo Energy stood out with a gain of about 14% after reports of a power supply agreement with a Google subsidiary; NIO and Dell traded weaker. » Más en finanzen.net

Fervo Energy has signed a power purchase agreement (PPA) with Google for 396 MW for the Cape Station project in Utah, which is scheduled to be fully online by 2028. Google will purchase round-the-clock geothermal power for a planned data center and has an option to expand the volume by about 600 MW to nearly 1 GW by June 2030, subject to permits and technical feasibility. The news sent the stock sharply higher; analysts see mostly buy potential despite lowered price targets. » Más en finanzen.net