Amatitlan Geothermal Project in Guatemala Receives United Nations’ Clean Development Mechanism Registration

RENO, Nev., Dec. 23 /PRNewswire-FirstCall/ — Ormat Technologies, Inc.
(NYSE: ORA) announced today that the Executive Board of the United Nations
Framework Convention on Climate Change (“UNFCCC”) officially registered
Ormat’s Amatitlan Geothermal Project in Guatemala as a Clean Development
Mechanism (“CDM”) on December 12, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO)

The Mechanism was designed to provide business from developed countries
with an economic incentive to help reduce carbon emissions and increase
sustainable development in countries that do not have emission reduction
targets. The Project is expected to offset emissions of approximately 83,000
tones of CO2 per year.

With Amatitlan registered under the CDM, the project will be eligible to
receive certified emission reduction (“CER”) credits, each equivalent to one
tone of carbon dioxide, which can be traded or sold. The Project has a long
term contract to sell all Amatitlan’s CERs to a buyer domiciled in Europe.

Ormat’s generating portfolio includes 13 projects totaling 414 MW in the
United States, Central America, Kenya and New Zealand. The Amatitlan project
is Ormat’s first registered CDM project and one of the few CDM registered
geothermal projects worldwide and the only project in Guatemala that is CDM
registered. Amatitlan was developed on a ‘build-own-operate basis and
comprises a 20 MW geothermal power plant based on Ormat Energy Converters.
The Project has a long-term power purchase agreement with the Instituto
Nacional de Electrificatio.

Mr. Lucien Y. Bronicki, Chairman of ORMAT said: “This registration is a
major encouragement for Ormat to continue developing additional geothermal CDM
eligible projects worldwide. Even looking beyond the benefit it provides for
Ormat, it is an arrangement with far-reaching advantages that will allow for
developing host countries to gain access to cost effective, clean and reliable
base-load power, that will help reduce their dependency on imported fuels and
on rainfall required to sustain their Hydro reservoirs.”

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 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 on
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:           Investor Relations Contact:
     Dita Bronicki                         Todd Fromer / Marybeth Csaby
     CEO                                   KCSA Strategic Communications
     775-356-9029                          212-896-1215/212-896-1236
     dbronicki@ormat.com                   tfromer@kcsa.com   mcsaby@kcsa.com

[Via http://www.prnewswire.com]

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