ORA Ormat Technologies Inc

Relating to the 8 1/4% Senior Secured Notes due December 30, 2020 CUSIP No.: 686685AB4 RENO, Nev., May 25 /PRNewswire-FirstCall/ -- Ormat Funding Corp. (the "Company"), a wholly owned subsidiary of Ormat Technologies, Inc. (NYSE:ORA), today declared the Effective Date of the consent solicitation launched on May 16, 2007 relating to the Company's 8 1/4% Senior Secured Notes due December 30, 2020, CUSIP No.: 686685AB4 (the "Consent Solicitation"). Holders of more than 51% of the aggregate principal amount of outstanding Notes have delivered and not revoked their valid consents. The Consent Solicitation and Waivers granted pursuant thereto are no longer revocable, effective at 5:00 p.m. New York City time, May 24, 2007. (Logo: http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO ) Lehman Brothers Inc. acted as the Solicitation Agent for the Consent Solicitation. Union Bank of California, N.A., served as the Tabulation and Information Agent for the Consent Solicitation. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. 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 Funding Corp'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. 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 Funding Corp. Paul Zavesov 1-775-356-9029 http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO http://photoarchive.ap.org/ DATASOURCE: Ormat Funding Corp. CONTACT: Paul Zavesov of Ormat Funding Corp., +1-775-356-9029, Web site: http://www.ormat.com/

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