Fervo Energy lands $206M in financing to build massive geothermal power plant

Geothermal frontrunner Fervo Energy said Wednesday that it had secured $206 million in financing to continue work on a new power plant in Utah. 

The startup is developing what promises to be the largest enhanced geothermal power plant in the world. The initial phase of Cape Station is expected to come online next year and produce 100 megawatts of electricity, and a subsequent expansion set to open in 2028 will add another 400 megawatts.

Enhanced geothermal, which runs deeper and hotter than traditional geothermal, has become a favored…