Ormat Technologies has Completed the Upgrade of the Steamboat 2/3 Projects

RENO, Nev., Oct 05, 2008 /PRNewswire-FirstCall via COMTEX/ -- ORA | Quote | Chart | News | PowerRating -- Ormat Technologies, Inc. (NYSE: ORA | Quote | Chart | News | PowerRating) announced today the successful completion of the Steamboat 2/3 upgrade project. The upgrade included the replacement of the 4 Rotoflow centrifugal expenders originally installed at these plants with direct drive gearless 11 MW axial turbines each designed and manufactured by Ormat specifically for geothermal use.

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"With the completion of this project with field proven turbines we expect to see major improvement in performance and availability of the two facilities which have been plagued with high maintenance costs and low run time of these turbines for most of their operating history," said Yoram Bronicki, President and Chief Operating Officer of Ormat Technologies. "This project is another demonstration of Ormat's unique capabilities, enabling us to complete the re-powering of an operating facility with limited downtime to the old equipment."

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 patents. Ormat currently operates 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; 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 5, 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

SOURCE Ormat Technologies, Inc.

http://www.ormat.com

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