Google, under Alphabet, has signed a long-term geothermal power purchase agreement with Ormat Technologies to provide an additional 150 megawatts of geothermal power capacity for its Nevada data centers through NV Energy's Clean Transition Tariff mechanism. The agreement adopts a multi-project portfolio structure, with the first facilities expected to go online in 2028 and the contract extending until 2045, offering long-term stability for both parties. Boosted by the news, Ormat Technologies' stock price surged by as much as 7.67% in early trading, though the gain has since narrowed to 5.3%.
