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Market
Leading Company in U.S. Enhanced Geothermal Capacity by End of 2026?
3
Resolution / Starting Odds
Fervo Energy • 25%
Ormat Technologies • 25%
Chevron • 25%
Other • 25%
Industry reports from the U.S. Department of Energy or major industry publications
Story
U.S. Approves 2 GW Cape Station Enhanced Geothermal Plant by Fervo Energy in Utah, Expanding Carbon-Free Power Options
Oct 20, 2024, 04:23 PM
The U.S. government has approved a 2 gigawatt (GW) enhanced geothermal power plant in Utah, marking a significant step towards expanding clean energy sources. This initiative is part of a broader movement to utilize advanced geothermal technology, which allows for the generation of carbon-free power without the need for hot volcanic rock. The Cape Station enhanced geothermal project, developed by Fervo Energy, has been highlighted for its innovative approach to energy production, as discussed in a recent NPR feature. Enhanced geothermal energy is gaining traction as a viable solution for providing reliable power, especially during periods when solar and wind energy may be insufficient. Additionally, the transition to enhanced geothermal is expected to create job opportunities for workers in the fossil fuel sector seeking to contribute to a clean energy future.
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