Article

Ormat Technologies Inc. signed a 20-year Power Purchase Agreement to provide 13 MW of renewable energy to Switch, a data center company, effective in 2030. The contract is valued at over $200 million and allows for a potential expansion of 7 MW.

Ormat anticipates more contracts for over 100 additional megawatts due to high demand for electricity in the data center sector. The company projects 2025 revenue of $960-980 million and EBITDA of $575-593 million, reflecting growth over the previous year. Ormat's stock has increased 80% in the past year, with a market cap of $7.2 billion.