A 60-year-old geothermal company just became an AI infrastructure play

Ormat will deliver up to 150 MW of geothermal power to Google in Nevada, with construction slated for 2028-2030 and regulatory approval expected later this year. The firm operates 1.85 GW worldwide, aims for 2.8 GW by 2028, and is testing 500 MW enhanced-geothermal projects with Sage Geosystems and SLB. H1 2026 revenue was $662.7 million, a 43% increase, and net profit was $71.2 million.