ORA Ormat Technologies Inc

Four Plants Located Along Gas Compressor Stations in North Dakota and South Dakota RENO, Nevada, Oct. 12 /PRNewswire-FirstCall/ -- Ormat Technologies, Inc. (NYSE:ORA) today announced the completion of its OREG-1 project along the Northern Border Pipeline in North Dakota and South Dakota. OREG-1 consists of four Recovered Energy Generation ("REG") plants owned and operated by Ormat with a total generating capacity of approximately 22 megawatts (MW). Bismarck-based Basin Electric will purchase energy produced by these plants under the terms of a 25-year power purchase agreement (PPA) that was announced last year. (Logo: http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO ) The four recovered energy power plants were engineered and built with Ormat equipment that uses the Company's proprietary technology to produce energy from recovered or "waste" heat without producing noxious greenhouse gas emissions. The new plants will generate electricity cleanly and efficiently using hot exhaust gases from existing natural gas turbines which operate compressor stations located along the pipeline, which carries natural gas from Canada to the Chicago area. Commenting on the project, Dita Bronicki, president and chief executive officer of Ormat Technologies, stated, "The completion of these REG plants in the Dakotas is a significant step forward for our recovered energy technology, as this will be our largest recovered energy project to date and the first of its type under our direct ownership. We are excited to be using our recovered energy technology on such a large scale, and equally excited that prominent companies, such as Basin Electric and Northern Border Pipeline Company, see the value and contribution that clean energy technology can make in meeting energy needs. We believe the success of this project will help similar companies see the potential for recovered energy production." Dedication ceremonies will be held Oct. 16-17 in North Dakota and South Dakota, respectively, and will include a short program of speakers representing Basin Electric, Ormat, Northern Border Pipeline and area electric cooperatives. Tours of the facilities will be available after the ceremony. The OREG-1 project will add 22 megawatts of clean energy to Ormat's existing portfolio. Ormat's second recovered energy project, Orsumas, is expected to come on line by the end of 2007. About Ormat Technologies Ormat Technologies, Inc. is a vertically integrated company primarily engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal power plants. It also designs, develops and builds, and plans to own and operate, recovered energy-based power plants. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power generating equipment, and provides related services. Ormat products and systems are covered by more than 70 patents. Ormat currently operates the following geothermal power plants: in the United States -- Brady, Desert Peak, Heber, Mammoth, Ormesa, Puna and Steamboat; in the Philippines -- Leyte; in Guatemala -- Zunil; in Kenya -- Olkaria; and in Nicaragua -- Momotombo. About Basin Electric Basin Electric is a consumer-owned, regional cooperative headquartered in Bismarck. It generates and transmits electricity to 121 member rural electric systems in nine states: Colorado, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, South Dakota and Wyoming. These member systems distribute electricity to about 1.8 million consumers. About Northern Border Pipeline Company Northern Border Pipeline Company is a general partnership that owns and operates a 1,249-mile interstate pipeline that transported approximately 22 percent of all Canadian gas imported into the United States in 2004. Northern Border Partners, L.P. owns a 70 percent general partner interest in Northern Border Pipeline Company. The remaining 30 percent general partner interest is owned by TC PipeLines, LP. 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 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 the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 28, 2006 and the Prospectus Supplement filed with the Securities and Exchange Commission on April 5, 2006. 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 and President KCSA Worldwide +1-775-356-9029 212-896-1215/212-896-1236 / http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGODATASOURCE: Ormat Technologies, Inc. CONTACT: Dita Bronicki, CEO and President 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 Worldwide Web site: http://www.ormat.com/

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