Baker Hughes (BKR) announced Tuesday an award from Fervo Energy Company to design and deliver equipment for five Organic Rankine Cycle, ORC, power plants at Fervo’s Cape Station power generation project near Milford, Utah, United States. Once operational, the five Cape Phase II ORC plants will generate approximately 300 megawatts of clean, reliable, and affordable power to the grid, equivalent power to approximately 180,000 homes. “Geothermal power is one of several renewable energy sources expanding globally and proving to be a vital contributor to advancing sustainable energy development,” said Baker Hughes Chairman and CEO Lorenzo Simonelli. “By working with a leader like Fervo Energy and leveraging our comprehensive portfolio of technology solutions, we are supporting the scaling of lower-carbon power solutions that are integral to meet growing global energy demand.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKR: