Cape Station Geothermal

Cape Station Enhanced Geothermal Project (Phase 1) – Financing

Industry
Renewables/Geothermal
Area of finance
Project & Infrastructure Finance
Region
North America
North America
Countries
United States

Deal Overview

Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its Cape Station enhanced geothermal project in Beaver County, Utah. Funding includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan and a $51 million letter of credit facility.

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Deal Volume
$421m
Financial Close
20/03/2026
Dealmakers
Sources

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Tranches

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Project Deals

Cape Station Enhanced Geothermal Project (Phase 1)
$462m
Greenfield
Geothermal
North America
North America
United States