Ormat Technologies Signs 20-Year Geothermal PPA with Data Center Operator Switch

Ormat Technologies has signed a 20-year power purchase agreement with data center operator Switch, its first direct PPA with a data center operator. The deal, which will lift Ormat's shares to nearly five-year highs, will see Switch purchase power from Ormat's geothermal facilities. The agreement marks a significant milestone for Ormat, which specializes in geothermal power generation.