Stock

# Ormat Technologies (ORA)

A geothermal and energy storage company with a pending agreement to supply up to 150 MW of new geothermal power for Google in Nevada.

Updated Oct 29, 2026

Information and analysis only, not a recommendation to buy, sell or hold any security. The author may own securities discussed.

Researched and drafted with AI agents. Every figure is taken from a source cited on the page.

Analysis and information

## What it does

Ormat Technologies, based in Reno, Nevada, is a vertically integrated geothermal company. It owns and operates geothermal and recovered-energy power plants and manufactures power units for other owners. It also runs a growing energy storage business.

## Role in the theme

In **Power for data centers**, Ormat offers geothermal power that runs around the clock. In February 2026, it signed a portfolio agreement with NV Energy for up to 150 MW of new geothermal capacity. The power will serve Google's Nevada data centers through NV Energy's Clean Transition Tariff. The projects are expected online between 2028 and 2030. The deal needs approval from the Public Utilities Commission of Nevada.

## Latest

- **2026-10-06:** set its Q3 report for 2026-11-04 after the close, with a call on 2026-11-05 at 10 a.m. ET.
- **2026-08-05, Q2 results:** revenue of $258.8 million, up 10.6%. Energy storage revenue rose 195%. Adjusted EBITDA was $143.9 million, up 6.9%.
- **2026-08-05, guidance:** it raised 2026 guidance to revenue of $1,150-1,200 million and adjusted EBITDA of $630-650 million.
- **2026-08-05, new technology:** it planned drilling at its Desert Peak enhanced geothermal pilot with SLB in the fourth quarter of 2026.

## What to watch

- Q3 results on 2026-11-04 after the close.
- The Nevada commission's decision on the Google-linked agreement. Ormat said in February it expected a decision in the second half of 2026.
- Progress at the enhanced geothermal pilots with SLB and Sage Geosystems.

## Covered in

- Theme: [Power for data centers](/research/themes/power-data-centers)

## Sources

Primary means the publisher of the data or the filing; secondary means press or an aggregator.
- [Ormat second quarter 2026 results](https://www.sec.gov/Archives/edgar/data/1296445/000143774926025961/ex_999557.htm)Primary 2026-08-05
- [Ormat: geothermal portfolio agreement of up to 150 MW for Google via NV Energy](https://investor.ormat.com/news-events/news/news-details/2026/Ormat-Technologies-Announces-the-Signing-of-Geothermal-Portfolio-PPA-of-Up-to-150-MW-to-Support-Googles-Data-Center-Operations-Through-NV-Energy/default.aspx)Primary 2026-02-17
- [Ormat to host third quarter 2026 results call](https://www.globenewswire.com/news-release/2026/10/06/3375439/26372/en/index.html)Primary 2026-10-06
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