Ormat Technologies Signs 20-Year PPA with Switch for 13MW Geothermal Energy Supply
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 12 2026
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Source: Globenewswire
- Long-Term Power Agreement: Ormat's 20-year Power Purchase Agreement with Switch enables the purchase of approximately 13MW of clean renewable energy from the Salt Wells geothermal power plant, marking a significant direct collaboration with the data center sector and enhancing Ormat's market position.
- Renewable Energy Expansion: The agreement allows Ormat to potentially expand the plant's output by adding a 7MW Solar PV facility, which will meet the auxiliary power needs of Switch's data centers, reinforcing their commitment to sustainability.
- Upgrade Timeline: A major upgrade to the Salt Wells plant is expected to be completed by Q2 2026, with energy deliveries commencing in Q1 2030, ensuring Ormat can provide reliable zero-emission power to support Switch's growth.
- Future Collaboration Potential: Ormat's CEO noted the potential for recontracting over 100MW of existing supply under this framework, highlighting the long-term collaborative potential and strategic value in the renewable energy sector.
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Analyst Views on ORA
Wall Street analysts forecast ORA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ORA is 120.00 USD with a low forecast of 111.00 USD and a high forecast of 135.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
6 Buy
2 Hold
0 Sell
Strong Buy
Current: 127.970
Low
111.00
Averages
120.00
High
135.00
Current: 127.970
Low
111.00
Averages
120.00
High
135.00
About ORA
Ormat Technologies, Inc. is a geothermal and vertically integrated company engaged in geothermal and recovered energy generation (REG). The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter, a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it owns or has installed for utilities and developers worldwide, totaling approximately 3,400 megawatts (MW) of gross capacity. Its segments include Electricity Segment, Product Segment and Energy Storage Segment. Its Electricity segment develops, builds, owns and operates geothermal, solar PV and recovered energy-based power plants in the United States and geothermal power plants in other countries around the world. Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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