Ormat Technologies signs 20-year power purchase agreement with Switch

Ormat Technologies (ORA) announced the signing of a 20-year power purchase agreement with Switch. This agreement represents Ormat’s first direct PPA with a data center operator. Under the terms of the agreement, Switch will purchase approximately 13MW of clean, renewable energy from Ormat’s Salt Wells geothermal power plant located near Fallon, Nevada. As part of the agreement Ormat has the option to further expand the facility’s output to Switch by adding an approximately 7MW Solar PV facility, which will serve the auxiliary power needs of the geothermal power plant. The combined output will help support the power needs of Switch’s Nevada data centers. Energy deliveries under the PPA are scheduled to commence in the first quarter of 2030, following the completion of a major upgrade to the Salt Wells power plant, which is expected to be finalized by the second quarter of 2026.