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Add McClure Capex/kW reference = 5k
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docs/Fervo_Project_Cape-4.md

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### Economic Results
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| Metric | Result Value | Reference Value(s) | Reference Source |
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|------------------------------------|--------------------------------------------------------|--------------------------|---------------------------------------------|
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| LCOE | $75.5/MWh | $80/MWh | Horne et al, 2025 |
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| Project capital costs: Total CAPEX | $2.64B | | |
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| Project capital costs: $/kW | $4900/kW (based on maximum net electricity generation) | $4500/kW, $3000–$6000/kW | Horne et al, 2025; Latimer, 2025. |
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| Well Drilling and Completion Cost | $3.96M/well (including 5% indirect costs) | $<4M/well | Latimer, 2025. |
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| WACC | 8.3% | 8.3% | Matson, 2024. |
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| After-tax IRR | 31.5% | 15–25% | Typical levered returns for energy projects |
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| Metric | Result Value | Reference Value(s) | Reference Source |
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|------------------------------------|--------------------------------------------------------|------------------------------------|--------------------------------------------------|
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| LCOE | $75.5/MWh | $80/MWh | Horne et al, 2025 |
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| Project capital costs: Total CAPEX | $2.64B | | |
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| Project capital costs: $/kW | $4900/kW (based on maximum net electricity generation) | $5000/kW; $4500/kW; $3000–$6000/kW | McClure, 2024; Horne et al, 2025; Latimer, 2025. |
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| Well Drilling and Completion Cost | $3.96M/well (including 5% indirect costs) | $<4M/well | Latimer, 2025. |
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| WACC | 8.3% | 8.3% | Matson, 2024. |
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| After-tax IRR | 31.5% | 15–25% | Typical levered returns for energy projects |
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### Technical & Engineering Results
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@@ -146,6 +146,10 @@ Matson, M. (2024, September 11). Fervo Energy Technology Day 2024: Entering "the
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Geothermal
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Energy. https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/
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McClure, M. (2024, September 12). Digesting the Bonkers, Incredible, Off-the-Charts, Spectacular Results from the Fervo
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and FORGE Enhanced Geothermal Projects. ResFrac Corporation Blog.
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https://www.resfrac.com/blog/digesting-the-bonkers-incredible-off-the-charts-spectacular-results-from-the-fervo-and-forge-enhanced-geothermal-projects
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NREL. (2024). Annual Technology Baseline: Recent Public Geothermal Power Purchase Agreement
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Pricing. https://atb.nrel.gov/electricity/2024/geothermal
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