Ormat Technologies, Inc. Signs New 20-Year Power Purchase Agreement with Southern California Edison for up to 100 Megawatts of Geothermal Power

Ormat Technologies, Inc. Signs New 20-Year Power Purchase Agreement with Southern California Edison for up to 100 Megawatts of Geothermal Power

RENO, Nevada, December 17, 2007 - Ormat Technologies, Inc. (NYSE: ORA) today announced that its subsidiary signed a 20-year power purchase agreement with Southern California Edison (SCE) for the sale of energy to be produced by a new plant that will be built in Imperial Valley, Calif. The plant is expected to come on line by mid 2012 and is expected to have a total output of 30 megawatts. The agreement includes an option to increase capacity to 100 megawatts

This agreement stems from a 2007 request for proposal from SCE and it is subject to approval by the Public Utilities Commission of California (CPUC).

The power rates agreed upon will not exceed the 2007 Market Price Referent ("MPR") as approved by the CPUC for a baseload plant for the use in the 2007 Renewable Portfolio Standard solicitations.

"The agreement for the new Imperial Valley Power Plant is the eighth such agreement between Ormat and SCE, and the second executed since the enactment of California's aggressive renewable portfolio standard legislation, "said Dita Bronicki, chief executive officer of Ormat. We are very happy to bring more baseload through clean geothermal energy to California. We are already supplying approximately 160 megawatts of geothermal energy to SCE from the existing power plants that we operate and we have an additional 50 megawatts under construction. This new contract will further increase our share in SCE's impressive portfolio of clean energy generation."

In May, Ormat signed a 20-year agreement with Nevada Power Company, for the sale of energy produced from the Grass Valley Geothermal Power Plant. That contract has recently received the approval the Public Utilities Commission of Nevada.

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 and recovered energy power plants using Organic Rankine Cycle (ORC) technology. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power generating equipment, and provides related services. Ormat is a pioneer and a leader in the manufacture of ORC power equipment its products and systems are covered by approximately 70 patents. Ormat currently operates the following geothermal power plants in the United States - Brady, Heber, Mammoth, Ormesa, Puna and Steamboat; in Guatemala - Zunil and Amatitlan; in Kenya - Olkaria; and in Nicaragua - Momotombo. In the U.S., Ormat owns and operates four OREG1 Recovered Energy Generation plants.

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