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Explicitly list Total CAPEX = $2.86B
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‎docs/Fervo_Project_Cape-4.md

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## Results
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| Metric | Result Value | Reference Value(s) | Reference Source |
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|--------------------------------------|-----------------------------------------------------------|----------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
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| LCOE | $79/MWh | $80/MWh | Horne, R., Genter, A., McClure, M. et al. Enhanced geothermal systems for clean firm energy generation. Nat. Rev. Clean Technol. 1, 148–160 (2025). https://doi.org/10.1038/s44359-024-00019-9 |
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| Project capital costs | ~$4650/kW (based on maximum total electricity generation) | $4500/kW, $3000–$6000/kW | Horne, R., Genter, A., McClure, M. et al. Enhanced geothermal systems for clean firm energy generation. Nat. Rev. Clean Technol. 1, 148–160 (2025). https://doi.org/10.1038/s44359-024-00019-9; Latimer, T. (2025, February 12). Catching up with enhanced geothermal (D. Roberts, Interviewer). https://www.volts.wtf/p/catching-up-with-enhanced-geothermal. |
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| Maximum Total Electricity Generation | 615 MW | | Actual maximum total generation may be bounded or constrained by modular power plant design not modeled in this case study. For example, a modular design with 50MW units may constrain maximum total generation to 600 MW. |
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| Minimum Net Electricity Generation | 500 MW | 500 MW | https://fervoenergy.com/fervo-energy-announces-31-mw-power-purchase-agreement-with-shell-energy/. The 500 MW PPA is interpreted to mean that Cape Station's net electricity generation must never fall below 500 MWe. |
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| Average Production Temperature | 199℃ | 204℃, 190.6–198.6℃ (optimal plant operating range) | https://jpt.spe.org/fervo-and-forge-report-breakthrough-test-results-signaling-more-progress-for-enhanced-geothermal; https://eartharxiv.org/repository/view/7665/. |
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| Well Drilling and Completion Cost | $3.96M/well | $<4M/well | Latimer, T. (2025, February 12). Catching up with enhanced geothermal (D. Roberts, Interviewer). https://www.volts.wtf/p/catching-up-with-enhanced-geothermal |
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| WACC | 8.3% | 8.3% | https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc |
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| After-tax IRR | 28.11% | 15–25% | Typical levered returns for energy projects |
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| Number of times redrilling | 3 | 3–6 | Redrilling expected to be required within 5–10 years of project start |
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| Metric | Result Value | Reference Value(s) | Reference Source |
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|--------------------------------------|----------------------------------------------------------|----------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
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| LCOE | $79/MWh | $80/MWh | Horne, R., Genter, A., McClure, M. et al. Enhanced geothermal systems for clean firm energy generation. Nat. Rev. Clean Technol. 1, 148–160 (2025). https://doi.org/10.1038/s44359-024-00019-9 |
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| Project capital costs: Total CAPEX | $2.86B | | |
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| Project capital costs: $/kW | $4650/kW (based on maximum total electricity generation) | $4500/kW, $3000–$6000/kW | Horne, R., Genter, A., McClure, M. et al. Enhanced geothermal systems for clean firm energy generation. Nat. Rev. Clean Technol. 1, 148–160 (2025). https://doi.org/10.1038/s44359-024-00019-9; Latimer, T. (2025, February 12). Catching up with enhanced geothermal (D. Roberts, Interviewer). https://www.volts.wtf/p/catching-up-with-enhanced-geothermal. |
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| Maximum Total Electricity Generation | 615 MW | | Actual maximum total generation may be bounded or constrained by modular power plant design not modeled in this case study. For example, a modular design with 50MW units may constrain maximum total generation to 600 MW. |
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| Minimum Net Electricity Generation | 500 MW | 500 MW | https://fervoenergy.com/fervo-energy-announces-31-mw-power-purchase-agreement-with-shell-energy/. The 500 MW PPA is interpreted to mean that Cape Station's net electricity generation must never fall below 500 MWe. |
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| Average Production Temperature | 199℃ | 204℃, 190.6–198.6℃ (optimal plant operating range) | https://jpt.spe.org/fervo-and-forge-report-breakthrough-test-results-signaling-more-progress-for-enhanced-geothermal; https://eartharxiv.org/repository/view/7665/. |
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| Well Drilling and Completion Cost | $3.96M/well | $<4M/well | Latimer, T. (2025, February 12). Catching up with enhanced geothermal (D. Roberts, Interviewer). https://www.volts.wtf/p/catching-up-with-enhanced-geothermal |
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| WACC | 8.3% | 8.3% | https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc |
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| After-tax IRR | 28.11% | 15–25% | Typical levered returns for energy projects |
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| Number of times redrilling | 3 | 3–6 | Redrilling expected to be required within 5–10 years of project start |
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See [Fervo_Project_Cape-4.out](https://github.com/softwareengineerprogrammer/GEOPHIRES/blob/main/tests/examples/Fervo_Project_Cape-4.out)
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in source code for the complete results.
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Given the methodological approach, including speculative estimation of some input parameters, and lack of real-world
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reference data for comparison, the case study results are subject to uncertainty. This case study does not attempt to
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quantify uncertainties, but sensitivity analysis may be included in future updates. Users may wish to perform their own
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sensitivity analysis using [GEOPHIRES's Monte Carlo simulation module](Monte-Carlo-User-Guide.html) or other data analysis
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sensitivity analysis using [GEOPHIRES's Monte Carlo simulation module](Monte-Carlo-User-Guide.html) or other data
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analysis
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tools.

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