Fervo Energy has signed a 396 MW PPA with Google, the largest-ever geothermal PPA, to support development of its Cape Station enhanced geothermal project in Utah, with Google planning to use the power as a “foundational building block” for a potential data center in Utah. The contracted capacity is expected to come online in 2028, with Google also holding an option to expand its offtake by approximately 600 MW by June 2030, bringing the potential deal to nearly 1 GW. Analysts at William Blair, an investment banking and equity research firm, estimate the agreement increases Fervo’s contracted revenue by about 65%, highlighting growing demand for firm, dispatchable power to support AI data centers.

Google is backing a €13 billion digital infrastructure investment in Finland with a series of clean energy agreements spanning nuclear, wind, battery storage, and grid infrastructure. The company signed a 22-year PPA with Fortum supporting the life extension and uprate of its Loviisa nuclear plant, alongside new wind PPAs bringing Google-backed capacity to 629 MW and a contracted 94-MW battery system. Google and Fortum will also explore new nuclear capacity and potential business models for additional reactors at the Loviisa site

The U.S. Department of Energy has closed a $1.9 billion loan to NextEra Energy to support the restart of the 615 MW Duane Arnold nuclear plant in Iowa, which was shut down in 2020. The facility is targeting a 2029 restart, with Google set to be the primary customer as it expands cloud and AI infrastructure in the state. The project is expected to generate more than $9 billion in economic benefits for Iowa over 25 years and is part of a broader push to bring nuclear capacity back online to meet rising data center electricity demand. Under the current administration, DOE has financed three nuclear plant restarts, alongside other conditional commitments to bring additional nuclear capacity online.

Swedish energy technology startup Rebaba, which builds battery energy storage systems (BESS) using repurposed EV batteries, has raised $4.6 million in an oversubscribed seed round led by Sistafund, alongside EIT Urban Mobility and other European investors. The funding will help expand its Stockholm production facility to 40 MWh of annual capacity and establish additional manufacturing hubs across Europe as the company scales its second-life battery storage systems.

Barcelona-based floating offshore wind technology developer X1 Wind has closed its fourth strategic funding round, led by Grow Ventures Partners, with participation from Avancsa and existing investors including Technip Energies and the European Innovation Council Fund. The funding will support the transition of its technology toward commercial deployment, including an 8.5-MW demonstration project off the coast of Catalonia. X1 Wind says its floating platform design could reduce capital costs by up to 50% compared with recently installed pre-commercial floating wind projects in Europe.

Swiss AI startup Jaipur Robotics, which develops computer vision and automation technology for waste-to-energy and other industrial plants, has raised €4.3 million in a seed round led by EquityPitcher Ventures and High-Tech Gründerfonds (HTGF). Its AI operating system analyzes waste to enable real-time hazard detection, waste mixing, and crane control, and currently processes data from more than 5 million tonnes of waste annually. The funding will support expansion into new markets and further development of its technology.