Baker Hughes Shares Dip 0.09% Amid 78.26% Trading Volume Surge Ranked 286th as $390M Geothermal Contract Drives Energy Transition

On September 2, Baker Hughes (BKR) saw a 0.09% decline in share price, closing at a volume of $0.39 billion—a 78.26% rise from the previous day. The stock ranked 286th in trading activity across the market. The move followed a major contract win for the energy technology firm.

Baker Hughes secured a multi-faceted order from Fervo Energy to supply geothermal power generation equipment for five Organic Rankine Cycle (ORC) plants at the Cape Station Phase II project in Utah. The project, expected to generate 300 megawatts of clean energy—enough to power 180,000 homes—will utilize Baker Hughes’ turboexpanders, BRUSH™ Power Generation generators, and other related systems. The order falls under the company’s Industrial & Energy Technology segment and builds on prior collaborations with Fervo for subsurface drilling technologies.

The Cape Station initiative underscores Baker Hughes’ expanding role in renewable energy infrastructure. The project’s two phases aim to deliver 100 MW by 2026 and 400 MW by 2028, with total permitting for up to 2 GW of capacity. The firm’s integration of geothermal solutions—from subsurface to power generation—positions it to capitalize on the sector’s growth as a reliable, low-carbon energy source. CEO Lorenzo Simonelli emphasized the strategic alignment with global energy transition goals, citing geothermal’s potential to address baseload power demands.

Backtesting of the company’s stock performance over the period showed a -0.09% change, with trading volume surging 78.26% to $0.39 billion. The contract with Fervo Energy is expected to drive long-term revenue stability as the project scales, reflecting Baker Hughes’ diversification beyond traditional oil and gas markets into renewable energy infrastructure.