Ormat Technologies (ORA) Advances Geothermal Exploration and Drilling to Support New Projects

Ormat Technologies, Inc. (NYSE:ORA) ranks among the best sustainability stocks to invest in. On February 17, Ormat Technologies, Inc. (NYSE:ORA) signed an expansive long-term geothermal power purchase agreement (PPA) with NV Energy to assist with Google’s Nevada data center capabilities. By leveraging the company’s increased exploration and drilling operations in recent years, the deal fortifies Ormat’s long-term growth strategy beyond 2028.

The arrangement, which requires approval from the Nevada Public Utilities Commission, is slated for completion in the latter half of 2026 and will add up to 150MW of geothermal power. The multi-project strategy is designed to allow Ormat Technologies, Inc. (NYSE:ORA) to establish a number of additional geothermal projects throughout Nevada, with the initial facilities projected to become operational as early as 2028 and continuing until 2030.

Ormat Technologies, Inc. (NYSE:ORA) is a leading geothermal company and the only vertically integrated company engaged in geothermal and recovered energy generation, as well as energy storage solutions.

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Disclosure: None. This article is originally published at Insider Monkey.