Fervo Energy Co 8-KCurrent Reports (8-K / ad hoc)

Financial Statements

Item 8.01. Other Events. On August 26, 2026, Cape Generating Station 6 LLC ("CGS 6"), a wholly owned subsidiary of Fervo Energy Company ("Fervo" or the "Company"), entered into a Power Purchase Agreement (the "PPA") with Google Energy LLC ("Google"), a subsidiary of Alphabet Inc., for the sale of energy products from a 396 MW enhanced geothermal systems (“EGS”) project located at Cape Station in Beaver County, Utah. The project will be delivered in four successive 99 MW sub-tranches with target commercial operation dates beginning in the third quarter of 2028. The PPA has a 15-year delivery term. Fervo has provided a parent company guaranty in support of CGS 6's obligations under the PPA, and Alphabet Inc. has provided a parent company guaranty in support of Google's obligations under the PPA. In connection with the PPA, the Company has also agreed to offer Google a capacity expansion option of approximately 600 MW at Cape Station, such that total contracted enhanced geothermal capacity would be not less than approximately 950 MW, with a guaranteed commercial operation date no later than June 2030. Any capacity expansion is subject to Google’s acceptance of the offer and the negotiation of a mutually acceptable definitive agreement. If the Company does not make the required capacity expansion offer, the Company is obligated to reimburse Google for amounts previously paid by Google to CGS 6 in respect of deemed delivered energy under the PPA. The amount of any such reimbursement would depend on the volume of deemed delivered energy for which Google has made payment at the time the obligation arises and the difference between the market price and the PPA price, and is not currently estimable. The project is being developed in a manner intended to utilize flexible power delivery pathways authorized under Utah Senate Bill 132 ("SB 132") but remains subject to receiving relevant regulatory approvals required under SB 132. Under the framework established by SB 132, it is anticipated that the Company's EGS, supplemented by additional energy resources, would deliver generating capacity through a closed private generation system, which may be configured for either front-of-the-meter or behind-the-meter interconnection to serve data center load subject to further engineering feasibility and agency approvals. The Company currently anticipates target commercial operatio