X-Caliber Rural Capital Provides $100 Million Loan For Fervo Energy's Cape Station Project In Utah

The transaction involves a loan for the construction of the Cape Station project by Fervo Energy, an industrial asset located in Beaver County, Utah. The loan amount is $100,000,000, facilitating Phase I development, which aims to generate 90 MW of renewable energy capacity. The project is on track for completion by June 2026 and is part of a larger initiative to achieve 400 MW of carbon-free power by 2028.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $100,000,000
• Lender: X-Caliber Rural Capital
• Lender Representatives: Nash Stapleton, Chris Callahan, Jordan Blanchard
• Landlord: Fervo Energy
• Landlord Representative: Tim Latimer
• Loan Type: Construction

This transaction supports a significant renewable energy initiative, indicating a collaborative effort between Fervo Energy and X-Caliber Rural Capital. The Cape Station project is already contracted to supply up to 400 MW of renewable energy to utilities in California, impacting local power availability. Additionally, the multi-phased development is expected to result in 6,600 construction jobs and 160 full-time positions.