Geothermal Energy from Ormat for Google Data Centers: Ormat Signs 150-MW PPA with NV Energy for Google in Nevada

Reno (USA) - Ormat Technologies is expanding its geothermal activities in Nevada and has signed a long-term power purchase agreement (PPA) with NV Energy for up to 150 MW.

The contract is intended to cover the electricity demand of Google’s data centers. Google is not a direct party to the PPA but will use the new capacity through a special tariff model provided by NV Energy.

The PPA 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’s contracting parties are Ormat and NV Energy. Ormat will develop, construct, own, and operate the geothermal power plants and supply the electricity to NV Energy.

The plan includes a portfolio of multiple projects, which are expected to come online gradually between 2028 and 2030. The contract term begins with the commercial operation of the first project and extends 15 years beyond the start of the last project, providing Ormat with long-term, predictable revenues from its own assets.

CEO Doron Blachar highlighted the underlying demand: “AI is fundamentally increasing electricity demand across the technology sector, and geothermal power is uniquely positioned to deliver the reliable, carbon-free power required to support that growth.” The portfolio PPA provides “long-term profitable revenue growth and clear visibility into Ormat’s portfolio development plans,” he added.

“The momentum of the Clean Transition Tariff through this agreement with NV Energy, Google and Ormat demonstrates a proven, scalable model for large customers to partner with utilities and technology providers to bring new clean capacity to the grid”, said Briana Kobor, Head of Energy Market Innovation at Google. “By adding up to 150MW of new clean-firm geothermal capacity in Nevada, we are utilizing a repeatable framework that fully covers all costs associated with our electric service, ensuring the CTT insulates other ratepayers while strengthening the reliability of the local power system,” Kobor added.

Investors welcomed the news. Ormat shares, listed in the global renewable energy index RENIXX World, rose 4.4 percent yesterday to €104.50 (closing price, February 18, 2026, Stuttgart Stock Exchange).

Source: IWR Online, 18 Feb 2026