Ormat Technologies Awarded Exploration Concession in Chile

RENO, Nev., Feb. 3 /PRNewswire-FirstCall/ -- Ormat Technologies, Inc.(NYSE: ORA), today announced  that its subsidiary, Ormat Andina SA., was recently awarded a geothermal exploration concession in Northern Chile in the area of San Pablo II.  The concession is approximately 26,000 acres located to the north of the San Pablo/San Pedro twin volcanic complex and close to access roads and to copper mines that could be a potential user of the electricity.  The Company will engage in preliminary testing and studies to assess the feasibility of the site for commercial development.

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Studies indicate that Chile has a large untapped geothermal energy potential and is expected to lead geothermal development in the region.

Commenting on the award, Dita Bronicki, CEO, said, "This concession adds to Ormat's diverse portfolio of interests and developments in Latin America, which includes activities as owner and operator of power plants in Nicaragua and Guatemala and EPC and supplier of power plant equipment to Costa Rica, Mexico, and Argentina.  We welcome the initiatives of the Chilean government and are happy to bring our experience as a vertically integrated leader of geothermal technologies to Chile. We are excited to explore business opportunities in the country."

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 75 U.S. patents. Ormat has built over approximately 1,200 MW of plants half for its own account and half as supplies to utilities and developers. Ormat current generating portfolio includes the following geothermal and recovered energy-based power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat, OREG 1 and OREG 2; in Guatemala - Zunil and Amatitlan; in Kenya - Olkaria; and in Nicaragua – Momotombo .

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 2, 2009

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.

SOURCE Ormat Technologies, Inc.

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