Financing Geothermal: Project Cape Challenges

Before he founded the geothermal startup Fervo in 2017, Tim Latimer was a drilling engineer for the oil and gas industry — a job he loved. “Honestly, if it wasn't for climate change, I probably wouldn’t have ever changed my career,” he says this week on Zero. Now Latimer is applying his drilling know-how to Fervo’s wells, supercharging their energy production in the process. The company opened its first power plant in Nevada late in 2023, and is now in the process of opening another plant in Utah. Latimer and Akshat Rathi chat about opportunities in geothermal, the infernal permitting process, and why Fervo has its sights on expanding into Kenya, Indonesia, Turkey and the Philippines.

Explore further:

• Past episode with the National Grid’s Sanjeet Sanghera about the need to update the grid on the path to net zero
• Past episode with Bill Gates about investing in nuclear power and other green energy plants
• Past episode with BNEF’s Claire Curry about how clean energy technology startups can succeed in a difficult investment climate 

Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Kira Bindrim and Monique Mulima. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.

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