Ormat Technologies: Project reached commercial operation

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Ormat Technologies, Inc., announced that two of the four facilities in the OREG 2 Recovered Energy Generation (REG) project reached commercial operation in December 2008 and January 2009, respectively.

The OREG 2 project is Ormat's second REG project located along the Northern Border natural gas pipeline. The project consists of four power plants that will have a net capacity of 5.5 MW each and will convert the recovered waste heat from the exhaust of existing gas turbines at compressor sites into electricity. The remaining two facilities are scheduled to be completed by the end of 2009.

"We are very happy to bring additional power through the use of recovered energy generation technology and contribute to the important goal of emission reduction," said Dita Bronicki, Chief Executive Officer of Ormat.

The output supplied from the two facilities will be sold to Basin Electric Power Cooperative (BEPC) of Bismarck, North Dakota and will bring the total owned generating capacity of Ormat's REG portfolio to 33 MW.

The ORMAT® REG facilities consist of ORMAT® ENERGY CONVERTERS (OEC) based on Organic Rankine Cycle technology, which converts recovered heat to electric power without the need for any additional fuel or water. The OEC units are environmentally benign, as they have no emissions of CO2 or NOX.

About Ormat Technologies

Ormat Technologies, Inc. is the only vertically-integrated company primarily engaged in the geothermal and recovered energy power business. The Company designs, develops, owns and operates geothermal and recovered energy-based power plants around the world. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power-generating equipment, and provides related services. The Company has more than four decades of experience in the development of environmentally-sound power, primarily in geothermal and recovered-energy generation. Ormat products and systems are covered by more than 75 U.S. patents. Ormat's current generating portfolio includes the following geothermal and recovered energy-based power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala - Zunil and Amatitlan; in Kenya - Olkaria; in Nicaragua - Momotombo and in New Zealand - GDL.

Safe Harbor Statement

Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to Ormat's plans, objectives and expectations for future operations and are based upon its management's current estimates and projections of future results or trends. Actual future results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, see "Risk Factors" as described in Ormat Technologies, Inc.'s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 5, 2008 and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 6, 2008.

These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

    Ormat Technologies Contact:  
    Dita Bronicki                
    CEO                         
    775-356-9029               
    dbronicki@ormat.com      

Source: Ormat Technologies, Inc.

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