Quoted exactly and dated only as precisely as the source. Copies of one release count as one origin. A withdrawn statement stays visible and is labelled.
26 September 2023 · Permissions · Whole project
Permission issued
First environmental assessment with a finding of no significant impact, covering exploration activities only
Secondary report Energy Global · Authority: Bureau of Land Management (Utah) · Jurisdiction: United States: federal (BLM), Utah
“In February, the Utah Bureau of Land Management (BLM) approved the project’s first environmental assessment (EA), issuing a finding of no significant impact pursuant to the National Environmental Policy Act. This EA allows Fervo to commence exploration activities at Cape Station site.”
Source: Energy Global ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
26 September 2023 · Construction · Whole project
Site work
Groundbreaking for the exploration drilling campaign
Secondary report Energy Global
“Fervo Energy, a leader in next-generation geothermal technology, has held a groundbreaking ceremony to mark the start of its exploration drilling campaign at Cape Station”
Source: Energy Global ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
28 June 2024 · Customer / offtake · Whole project
Agreement signed
Two 15-year PPAs totalling 320 MW from Cape Station
Secondary report Utility Dive · Counterparty: Southern California Edison · Bindingness not stated
“Southern California Edison and geothermal energy company Fervo Energy announced Tuesday that they have executed two 15-year power purchase agreements for a total of 320 MW.”
Source: Utility Dive ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
12 September 2024 · Technical milestones · Whole project
Testing reported
30-day well test at Cape Station: flow rate and potential generation (company claim, reported by trade press); not sustained plant output
Secondary report Utility Dive
“A 30-day test at Cape Station achieved a maximum flow rate of 107kg/s at high temperatures, potentially enabling over 10 MW of generation, the company said.”
Source: Utility Dive ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
17 October 2024 · Permissions · Whole project
Permission issued
BLM approval of the Fervo Cape Geothermal Power Project (up to 2 GW; about 631 acres, 148 on public land); a federal land decision, not every permit needed to build or operate
Regulator issued Bureau of Land Management · Authority: Bureau of Land Management · Jurisdiction: United States: federal (BLM), Beaver County, Utah
“The Department announced that the Bureau of Land Management (BLM) has approved the Fervo Cape Geothermal Power Project in Beaver County, Utah, which will use innovative technology to generate up to 2 gigawatts (GW) of baseload power”
Source: Bureau of Land Management ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
21 October 2024 · Permissions · Whole project
Permission issued
Finding of No Significant Impact and decision approving the project, BLM Cedar City Field Office; 30-day appeal window
Secondary report Utility Dive · Authority: BLM Cedar City Field Office · Jurisdiction: United States: federal (BLM), Utah
“On Oct. 8, BLM said that its Cedar City Field Office has reached a Finding of No Significant Impacts from the project and issued a decision approving it. The 30-day period to appeal the decision will end on Nov. 7.”
Source: Utility Dive ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
17 April 2026 · Financing · Whole project
Closed
Project-level preferred equity in Cape Phase I HoldCo, LLC (Cape Station Phase I)
Company reported Fervo Energy (SEC filing, Form S-1) · Counterparty: Granite Energy InvestCo, LLC ("Catalyst") · Equity · USD 100m
“Catalyst subscribed to 4,635 Class A
Units in Cape Phase I HoldCo, LLC for a total capital contribution of $100.0 million.”
Source: Fervo Energy (SEC filing, Form S-1) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
15 April 2025 · Customer / offtake · Whole project
Agreement signed
15-year PPA, 31 MW, Shell Energy as first offtaker from Phase I
Company reported Fervo Energy (via Business Wire, syndicated by Silicon UK) · Counterparty: Shell Energy North America (US), L.P. · Bindingness not stated
“today announced the execution of a 15-year power purchase agreement with Shell Energy North America (US), L.P. (“Shell Energy”) for 31 MW of 24/7 carbon-free geothermal power (the “Agreement”).”
Source: Fervo Energy (via Business Wire, syndicated by Silicon UK) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 28 June 2024 · Operational delivery · Whole project
Target: commercial operation, 2026
Original target (2024): initial 70 MW phase operational by 2026, next phase by 2028
Secondary report Utility Dive
“Fervo expects the initial 70-MW phase of the project to be operational by 2026, with the next phase coming online by 2028.”
Source: Utility Dive ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
22 June 2026 · Construction · Whole project
Construction
Construction of Cape Station Phase II (about 400 MW) commenced
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Commenced construction of Cape Station Phase II in Q1 2026, which is expected to deliver approximately
400 megawatts.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
12 August 2026 · Financing · Whole project
Closed
Project Granite: non-recourse project debt for Cape Station Phase I (closed Q1 2026; proceeds repaid the earlier XRC loan)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit) · Counterparty: Lender syndicate led by MUFG Bank (administrative agent) and HSBC Bank USA (collateral agent), per the 10-Q · Debt · About USD 421m
“using proceeds from the Project Granite Facility, the $421 million non-recourse project debt financing for the first phase of Cape Station that Fervo closed in Q1 2026, and the XRC Facility was terminated.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
12 August 2026 · Financing · Whole project
Closed
Cape Station, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit) · Counterparty: the Project Granite Facility · USD 421m
“(the “XRC Facility”) using proceeds from the Project Granite Facility, the $421 million non-recourse project debt financing for the first phase of Cape Station that Fervo closed in Q1 2026, and the XRC Facility was terminated.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
12 August 2026 · Commissioning · Whole project
Commissioning
Phase I: mechanical completion of GeoBlocks 1 and 2; GeoBlock 1 commissioning with first wells connected and turbines spinning
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Commissioning on GeoBlock 1 continued throughout the quarter with the first set of wells having been connected to the power plant, moving geothermal brine through the heat exchangers and spinning the turbines.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
12 August 2026 · Technical milestones · Whole project
Testing reported
Phase II drilling: Sawtooth 7 well (Fervo 3.0 design), depth, temperature and drilling time
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“During the quarter, Fervo drilled Sawtooth 7, its ninth Fervo 3.0 well, reaching a measured depth of nearly 19,500 feet in a 460°F resource in just 21 days spud-to-total-depth, a new Company record for drilling pace on its most complex well design to date.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
13 August 2026 · Financing · Whole project
Drawn / disbursed
Amount drawn (outstanding) under the Project Granite facility as of June 30, 2026 (partial draw of about $421.4 million in commitments)
Company reported Fervo Energy (SEC filing, Form 10-Q) · Debt · About USD 212.3m
“As of June 30, 2026, total outstanding borrowings under the Project Granite Facility were approximately $212.3 million”
Source: Fervo Energy (SEC filing, Form 10-Q) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
12 August 2026 · Construction · GeoBlock 1
Mechanically complete
GeoBlock 1, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Fervo has achieved mechanical completion on GeoBlocks 1 and 2, with mechanical completion of GeoBlock 3 expected over the coming months.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
12 August 2026 · Construction · GeoBlock 2
Mechanically complete
GeoBlock 2, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Fervo has achieved mechanical completion on GeoBlocks 1 and 2, with mechanical completion of GeoBlock 3 expected over the coming months.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 12 August 2026 · Construction · GeoBlock 3
Target: mechanically complete, Date not disclosed
GeoBlock 3, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlocks 1 and 2 and progressing commissioning, with GeoBlock 3 mechanical completion expected in the coming months.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
13 August 2026 · Customer / offtake · Whole project
Agreement signed
Phase II PPAs with SCE and Clean Power Alliance, including expansions (384 MW combined); Fervo discloses its transmission rights cover only the original contracts
Company reported Fervo Energy (SEC filing, Form 10-Q) · Counterparty: Southern California Edison; Clean Power Alliance · Bindingness not stated
“This capacity is sufficient to meet the obligations under our original PPAs with Southern California Edison (SCE) and Clean Power Alliance (CPA), but is insufficient to support the full 384 megawatts of combined contracted capacity with the subsequent expansions of the SCE and CPA PPAs.”
Source: Fervo Energy (SEC filing, Form 10-Q) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
13 August 2026 · Permissions · Whole project
Permission issued
Aggregate count: 79 of 80 government permits and approvals needed for Phase I commercial operation received, one still in process (company-reported)
Company reported Fervo Energy (SEC filing, Form 10-Q) · Jurisdiction: United States: federal, Utah state and county (not itemised)
“As of the date of this filing, 79 out of 80 governmental permits and approvals necessary to commence commercial operations at Cape Station Phase I have been received, with the remaining permit in process.”
Source: Fervo Energy (SEC filing, Form 10-Q) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
1 September 2026 · Customer / offtake · Whole project
Agreement signed
396 MW PPA for the Cape Station EGS GeoCluster expansion (expected online 2028), with an option for about 600 MW more
Company reported Fervo Energy (SEC filing, Form 8-K exhibit) · Counterparty: Google · Bindingness not stated
“today announced a 396-megawatt (MW) power purchase agreement (PPA)
with Google to enable the continued development of the Cape Station enhanced geothermal systems (EGS)
GeoCluster, expected to come online in 2028.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
1 October 2026 · Commissioning · GeoBlock 1
Synchronised to the grid
GeoBlock 1 (33 MW) synchronized to the grid
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Cape Station synchronized to the grid on September 24 and declared commercial operation just six days later on
September 30, one day before its contractual COD.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
1 October 2026 · Operational delivery · GeoBlock 1
Commercial operation
GeoBlock 1 declared commercial operation (one of three Phase I GeoBlocks; one day before its contractual COD)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Cape Station synchronized to the grid on September 24 and declared commercial operation just six days later on
September 30, one day before its contractual COD.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 12 August 2026 · Commissioning · Whole project
Target: first power, Q4 2026
Target as of August 2026: GeoBlock 1 first power in Q4 2026; GeoBlocks 2 and 3 initial power in early 2027
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlock 1 first power is targeted for the fourth quarter of 2026, with full production anticipated by year-end; GeoBlocks 2 and 3 are expected to reach initial power in early 2027.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 12 August 2026 · Commissioning · GeoBlock 1
Target: first power, Q4 2026
GeoBlock 1, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlock 1 first power is targeted for the fourth quarter of 2026, with full production anticipated by year-end; GeoBlocks 2 and 3 are expected to reach initial power in early 2027.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 12 August 2026 · Commissioning · GeoBlock 1
Target: exporting test energy, Q4 2026
GeoBlock 1, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Fervo expects to begin generating test power at GeoBlock 1 in the fourth quarter of 2026, with full production anticipated by year-end.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
1 October 2026 · Customer / offtake · GeoBlock 1
Supply under contract started
Revenue being generated under Fervo's PPA from GeoBlock 1 (offtaker not named)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit) · Bindingness not stated
“First GeoBlock reaches contractual commercial operation date (COD) and is generating revenue under the terms of Fervo’s Power Purchase Agreement (PPA)”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
1 October 2026 · Operational delivery · GeoBlock 1
Commercial operation
GeoBlock 1 net output at commercial operation (company-reported) and Phase I configuration
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Cape Station's Phase I comprises approximately 100 MW across three 33-megawatt GeoBlocks. The first
GeoBlock produced 33 MW of net power production, showing even in these early stages the GeoBlock is performing to expectations.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
9 November 2026 · Commissioning · GeoBlock 2
Synchronised to the grid
GeoBlock 2, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlock 2 has achieved grid sync, a major milestone, which marks the end of hot commissioning.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
9 November 2026 · Commissioning · GeoBlock 2
Exporting test energy
GeoBlock 2, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlock 2 has achieved grid sync and is in its early operations phase, delivering test energy to the grid.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
9 November 2026 · Commissioning · GeoBlock 3
Cold commissioning
GeoBlock 3, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlock 3 is mechanically complete and is in cold commissioning.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
9 November 2026 · Construction · GeoBlock 3
Mechanically complete
GeoBlock 3, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlock 3 is mechanically complete and is in cold commissioning.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 12 August 2026 · Commissioning · GeoBlock 2
Target: first power, 2027
GeoBlock 2, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlocks 2 and 3 are expected to follow a similar sequence, with initial power in early 2027 ramping to full power over the ensuing months.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 12 August 2026 · Commissioning · GeoBlock 3
Target: first power, 2027
GeoBlock 3, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlocks 2 and 3 are expected to follow a similar sequence, with initial power in early 2027 ramping to full power over the ensuing months.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 1 October 2026 · Operational delivery · Whole project
Target: commercial operation, Jan 1, 2027
Target as of October 2026: GeoBlocks 2 and 3 contractual COD by January 1, 2027; Phase II (400 MW) COD in 2028
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“Commissioning continues at the remaining two Phase I GeoBlocks, which are expected to reach contractual COD by January 1, 2027. The next phase, an additional 400 MW, is already under construction, with an expected COD in 2028.”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 9 November 2026 · Operational delivery · GeoBlock 2
Target: commercial operation, Jan 1, 2027
GeoBlock 2, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlocks 2 and 3 remain on schedule and are expected to achieve commercial operation by January 1, 2027, which will complete Cape Station”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
Target stated 9 November 2026 · Operational delivery · GeoBlock 3
Target: commercial operation, Jan 1, 2027
GeoBlock 3, as described by Fervo Energy (SEC filing, Form 8-K exhibit)
Company reported Fervo Energy (SEC filing, Form 8-K exhibit)
“GeoBlocks 2 and 3 remain on schedule and are expected to achieve commercial operation by January 1, 2027, which will complete Cape Station”
Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗ · Open in the ledger · What this does and does not establish · source read 11 November 2026
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