Press Release

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

The Project is Expected to Offset 83,000 Tons of Carbon Dioxide Emissions Per Year

Company Release - 12/23/2008 6:14 AM ET

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.


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         

SOURCE Ormat Technologies, Inc.

Contact: Dita Bronicki, CEO of Ormat Technologies, +1-775-356-9029,; or investor relations, Todd Fromer, +1-212-896-1215,, or Marybeth Csaby, +1-212-896-1236,, both of KCSA Strategic Communications, for Ormat Technologies