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Think GeoEnergy

Summary

Is the geothermal energy sector entering a new phase of growth? Driven by a surge in electricity demand and the need for reliable, round-the-clock renewable power there are indications that indeed this is the case. While solar and wind have long led the way in green energy procurement, a rising wave of geothermal power purchase agreements (PPAs) is positioning geothermal as a critical player in the global energy transition.

Data centers are expanding rapidly, fueled by AI, cloud computing, and digital infrastructure. By 2030, they could consume 9% of all U.S. electricity. Unlike intermittent renewables, geothermal can meet these high, always-on energy needs, as also recently pointed to in a research report by Rhodium Group by

• Just in, Fervo Energy signing 31 MW PPA with Shell Energy (with now a fully contracted 500 MW of Fervo’s Cape Station in Utah).
• Google signed a 3 MW PPA with Google in Taiwan (including an equity deal).
• Google signed a 115 MW PPA with Fervo Energy in Nevada, delivering geothermal power via NV Energy by 2026.
• Meta is partnering with Sage Geosystems for up to 150 MW of geothermal power by 2027.
• Analysts suggest geothermal could serve 64% of new data center power demand through 2030 in the U.S.

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