Overview
- Ormat will supply up to 150 MW of new geothermal capacity under a long-term, portfolio-style PPA supporting Google’s Nevada operations.
- Projects are slated to reach commercial operation in phases from 2028 through 2030, with additions joining the portfolio as they come online.
- The contract term starts at the first project’s commercial operation date and runs 15 years beyond the final project’s start of operations.
- The PPA requires approval from the Public Utilities Commission of Nevada, with a decision expected in the second half of 2026.
- Ormat cited the extended geothermal tax credit under the OBBBA framework and reported shares rising more than 4% after the announcement.