Ormat Technologies signs geothermal Power Purchase Agreement

Ormat Technologies (ORA) announced that it has entered into a long-term geothermal Power Purchase Agreement, PPA, with NV Energy to support Google’s operations in Nevada with up to 150MW of new geothermal capacity. The PPA, which will cover a multi-project portfolio, is enabled through NV Energy’s Clean Transition Tariff, CTT, and is subject to approval by the Public Utilities Commission of Nevada, PUCN, expected in the second half of 2026. The agreement dually supports Ormat’s long-term growth strategy and trajectory, enabling the development of multiple new geothermal projects, which are expected to come online from 2028 to 2030.