ORA Ormat Technologies Inc

RENO, Nev., June 26 /PRNewswire-FirstCall/ -- Ormat Technologies, Inc. (NYSE:ORA) today announced that one of its subsidiaries entered into a supply contract for a new geothermal power plant to be constructed in Turkey. The contract is valued at approximately $16 million and delivery of the equipment is expected to be completed within 16 months from the contract date. (Logo: http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO) The customer, MEGE- Menderes Geothermal Elektrik Uretim, A.S., a private developer and owner of the resource in Turkey, has one operating Geothermal Power Plant that was supplied by Ormat in 2004. The new power plant significantly contributes to the local authorities' efforts to develop the base load needs of Turkey through dependable, indigenous and clean geothermal power, optimizing the energy utilization by converting both geothermal steam and brine from geothermal wells into electric power. The new plant will use air-cooled condensers and allow 100% geothermal fluid reinjection, which serves both to sustain the reservoir and to produce electrical power with virtually no environmental impact. Out of the four plants in Turkey, one uses water-cooled condensers and the rest are air-cooled. All utilize the hi-performance hi-efficiency organic turbine developed by Ormat for geothermal and recovered-energy applications. With this new development, Ormat technology maintains its leadership in the creation of electricity from geothermal resources in Turkey, both in MW and number of power plants. Dita Bronicki, CEO of Ormat Technologies, said, "This marks our fourth order to supply equipment for geothermal power in Turkey and continues our leadership position in creating clean energy both in MW and the number of power plants in the country. With the addition of this plant, Ormat will have increased the amount of MWs it supplies to 20 countries to over 950 MW. We view this milestone as a demonstration of the effectiveness and reliability of Ormat's solutions and it further reinforces the applicability of our renewable energy solutions to the world electricity markets." 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 / http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO http://photoarchive.ap.org/ DATASOURCE: Ormat Technologies, Inc. CONTACT: Dita Bronicki, CEO of Ormat Technologies, Inc., +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, Inc. Web site: http://www.ormat.com/

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