Ormat Technologies Inc.

Published : November 26th, 2013

Completes Final Drawdown of $45 Million From OPIC for Final Phase of Construction at Olkaria III Geo

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Ormat Technologies has added a news release to its Investor Relations
website.

Title: Ormat Technologies Completes Final Drawdown of $45 Million From OPIC
for Final Phase of Construction at Olkaria III Geothermal Complex in Kenya

Date(s): 25-Nov-2013 5:00 PM

For a complete listing of our news releases, please visit:
http://investor.ormat.com/phoenix.zhtml?c=181999&p=irol-news&nyo=0

RENO, Nev., Nov. 25, 2013 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc.
(NYSE:ORA) announced today that OrPower 4 Inc., its wholly owned subsidiary,
drew down the remaining $45 million available under its project finance
facility with Overseas Private Investment Corporation (OPIC). This drawdown
will be used to complete the final phase of construction at the Olkaria III
complex in Naivasha, Kenya, bringing the geothermal power plant capacity to
over 100 MW.

 The $45 million drawdown comprises Tranche III of the previously announced
$310 million project finance facility with OPIC. The drawdown of Tranche III
has a fixed interest rate of 6.12%. This, together with the earlier
conversion of Tranches I and II to a fixed interest rate, as reported July
15, 2013, eliminates any exposure under the facility to movements in market
interest rates.

 Dita Bronicki, chief executive officer of Ormat, commented, "The final
drawdown of this landmark financing from OPIC to a geothermal IPP in Kenya
demonstrates support from strong sponsors and environmentally conscious
lenders in the successful development of additional projects. We will
continue to work with OPIC to explore additional financing for future
projects in Kenya and elsewhere."

 About OPIC

 OPIC is the U.S. Government's development finance institution, OPIC
provides financial products, such as loans and guaranties; political risk
insurance; and support for investment funds, all of which help American
businesses expand into emerging markets and solve critical development
challenges.

 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

 
   
 
Ormat Technologies, Inc.

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Data and Statistics for these countries : Guatemala | Kenya | All
Gold and Silver Prices for these countries : Guatemala | Kenya | All

Ormat Technologies Inc.

CODE : ORA
ISIN : US6866881021
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Ormat technologies is based in United states of america.

Ormat technologies holds various exploration projects in Indonesia and in USA.

Its main exploration properties are HEBER in USA and SARULLA in Indonesia.

Ormat technologies is listed in Germany and in United States of America. Its market capitalisation is US$ 4.6 billions as of today (€ 4.0 billions).

Its stock quote reached its highest recent level on February 26, 2021 at US$ 98.73, and its lowest recent point on December 02, 2022 at US$ 91.00.

Ormat technologies has 50 597 124 shares outstanding.

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