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Ormat Signs 150 MW Geothermal Power Deal with NV Energy to ...
The 150MW geothermal power deal supports Google's expanding data center demand and aligns with Ormat's growth strategy amid rising U.S. electricity use driven by AI, officials said.
- On Feb. 17, 2026, Ormat Technologies Inc. announced a long-term geothermal PPA with NV Energy to supply Google with up to 150 megawatts of new capacity in Nevada.
- Big Tech’s AI expansion has driven U.S. power demand higher this year, and geothermal offers reliable, non-intermittent energy suited for AI data centers, the company said.
- The deal creates a portfolio that lets Ormat develop and add geothermal projects across Nevada, expected to come online between 2028 and 2030, under the Portfolio PPA.
- Investors reacted after the announcement, and Ormat shares rose 4.7 per cent to $1243.54, with Ormat saying it provides utilities and Google a scalable way to buy clean, reliable power.
- The deal requires PUCN approval expected in the second half of 2026, and Ormat management says favorable terms and the extension of a geothermal tax credit strengthen their long-term growth strategy.
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The agreement begins as the first projects enter into commercial operation, said Ormat, which is planned between 2028 and 2030.
Google plans to power its data centers with up to 150MW of geothermal energy
by Carlos Eduardo Joos Google has signed a power purchase agreement with Ormat Technologies, a leading geothermal power developer, for up to 150MW of power to power its data centers in Nevada, USA. This partnership aims to meet the rapidly increasing demand for electricity due to the spread of AI, and to secure clean energy that can operate 24 hours a day, 365 days a year. Ormat Technologies Inc. - Ormat Technologies Announces the Signing of Geo…
Ormat, NV Energy, Google Ink 150MW Geothermal Power Deal
Ormat Technologies, a leading geothermal and renewable energy company, has inked a significant power purchase agreement (PPA) with NV Energy to provide up to 150MW of new geothermal capacity. This capacity will support Google’s data center operations in Nevada, marking a pivotal moment in the renewable energy sector. The agreement was facilitated through NV Energy’s Clean Transition Tariff (CTT)… Source
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