This website is under development, but we are pushing out updates as we build, so check back Nov. 1 for our official launch.

Fervo Energy secures $100 million loan for 400-MW Cape Station geothermal project in Utah.

US geothermal start-up Fervo Energy has secured a USD-100-million (EUR 90.6m) bridge loan for the first phase of its 400-MW Cape Station project in southwest Utah. The loan is provided by XRL-ALC LLC, an affiliate of commercial real estate finance company X-Caliber Capital Holdings LLC’s unit X- Caliber Rural Capital. Some USD 65 million will be used to fund development costs associated with the sub-surface development of the 90-MW cape Station Phase I, while remaining USD 35 million will go for surface development costs. The project is expected to be completed by June 2026 and the whole power station is finalised by 2028.

Share:

More Posts

Send Us A Message