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Ormat Enters Joint Development Agreement With eBay Inc. for Development of Five-Megawatt Recovered Energy Generation Power



Ormat Enters Joint Development Agreement With eBay Inc. for Development of
Five-Megawatt Recovered Energy Generation Power Plant

Ormat Offers REG Solution to Meet eBay Inc.'s Green Energy Needs to Supply
Cleaner Electricity to New Salt Lake City-Based Data Center

RENO, Nev., Sept. 26, 2013 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc.'s
(NYSE:ORA) wholly owned subsidiary entered a Joint Development Agreement with
eBay Inc. for the development of a five-megawatt Recovered Energy Generation
(REG) power plant to be constructed in Utah. The Joint Development Agreement
allows Ormat and eBay Inc. to advance negotiations on a 20-year term contract
and begin preliminary development work to supply cleaner electricity to eBay
Inc.'s new Salt Lake City-based data center.

"We commend eBay Inc.'s commitment to sustainable commerce and look forward to
helping them achieve their clean energy goals," said Yoram Bronicki, president
and chief operating officer for Ormat. "We're hopeful that our work with eBay
Inc. will continue to promote REG as a predictable, environmentally friendly
energy source that provides a hedge against the variability of fossil fuel
costs.

"This is a shining example of energy efficiency playing a bigger role in the
U.S. energy market. REG offers a proven solution for clean energy to
significantly improve energy efficiency to an existing facility. These
benefits directly contribute to President Obama's national goal, set forth by
Executive Order, to coordinate and strongly encourage efforts to deploy 40
gigawatt of energy efficiency in the U.S. by the end of 2020."

The development was made possible by state legislation eBay Inc. helped
develop that enables non-utility energy consumers to buy and transmit power
directly from energy developers. Following passage of SB12 in 2012, eBay Inc.
initiated a structured procurement process, through which Ormat was selected
as the winning bid. eBay Inc. aims to purchase electricity generated from a
REG facility constructed and operated by Ormat and deliver that energy to
serve a portion of its Utah data center load requirements. 

"SB12 was a critical component to identifying Ormat as a solution to our
greener energy needs," said Dean Nelson, vice president, global foundation
services at eBay Inc. "This milestone points to our belief that commerce can
be fundamentally more sustainable than it is today – and that eBay Inc. can be
a leader in that transition. We look forward to continuing in our pursuit of
contracting REG power and to reach, and possibly surpass, our goal to source
at least eight percent of our energy from cleaner sources by 2015."

Ormat's REG power plants capture waste heat that would otherwise be released
to the atmosphere and convert that heat into energy using an Ormat Energy
Converter, similar to those used in geothermal electricity generation. With
over 160 MW of installed REG capacity in North America, Ormat is the leading
manufacturer and developer of waste heat recovery generation. And, with over
665 MW in North America and 1600 MW of installed gross capacity worldwide,
Ormat is a front-runner in the design and supply of geothermal and REG
technology in the global market.

About Ormat Technologies, Inc.

With over four decades of experience, Ormat Technologies, Inc. is a leading
geothermal company and the only vertically integrated company solely engaged
in geothermal and recovered energy generation (REG). The company owns,
operates, designs, manufactures and sells geothermal and REG power plants
primarily based on the Ormat Energy Converter—a power generation unit that
converts low-, medium- and high-temperature heat into electricity. With over
82 U.S. patents, Ormat's power solutions have been refined and perfected under
the most grueling environmental conditions. Ormat has over 500 employees in
the United States and about 600 overseas. Ormat's flexible, modular solutions
for geothermal power and REG are ideal for the vast range of resource
characteristics. The company has engineered, manufactured and constructed
power plants, which it currently owns or has supplied to utilities and
developers worldwide, totaling approximately 1600 MW of gross capacity.
Ormat's current generating portfolio of 595 MW (net) is spread globally in the
U.S., Guatemala and Kenya.

Ormat's 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 11, 2013.

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.

CONTACT: Ormat Technologies Contact:
         Dita Bronicki
         CEO
         775-356-9029
         dbronicki@ormat.com
        
         Investor Relations Contact:
         Todd Fromer/Rob Fink
         KCSA Strategic Communications
         212-896-1215 (Fromer)/212-896-1206 (Fink)
         tfromer@kcsa.com / rfink@kcsa.com

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