GREEN ENERGY you can depend on

Ormat Technologies, Inc.

U.S. Geothermal Development“The Reality of Today, and the Promise of

Tomorrow”

March 2007FP46g060118

GREEN ENERGY you can depend on

Statements in this presentation as well as oral statements made by the officers or directors of Ormat Technologies, Inc., its advisors, affiliates or subsidiaries often will contain “forward-looking statements.” Whenever you read or hear a statement that is not simply a statement of historical fact (such as when we describe what we “believe”, “expect” or “anticipate” will occur, and other similar statements), you must remember that our expectations may not be correct, even though we believe they are reasonable. You should read and listen to these statements completely and with the understanding that actual future results may be materially different from what we expect, as a result of certain risks and uncertainties. For a complete discussion of the risks and uncertainties relating to the forward-looking statements in this presentation, please see “Risk Factors” as described in our 2005 Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 28, 2006 and the Prospectus Supplement filed with the Securities and Exchange Commission on April 5, 2006.We will not update these forward-looking statements, even though our situation will change in the future.

DisclaimerDisclaimer

GREEN ENERGY you can depend on

Table of ContentsTable of Contents

• Ormat • Ormat ORC Technology• Environmental Benefits• Emerging Technologies

– RMOTC/ TX– EGS– Plug & Play

• Summary

GREEN ENERGY you can depend on

ORMAT at a GlanceORMAT at a Glance• Vertically integrated alternative energy company

– With 40 Years of success – Ormat Technologies Inc. NYSE (ORA) listed

• Geothermal and recovered energy power plants and projects– Approx 300 Mw installed in the United States – Approx 850 MW of installed capacity worldwide

• Flexible business model in the energy industry – Develop, design, build, own, operate – Turnkey supply– Equipment sales – Finance

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Solar Powered ORC Water Pump – Mali 1966 High Reliability ORC Power Unit for Alyeska P/L 1976

5 MW Solar Pond Collects and Stores Energy - 19821 MW ORC Solar Thermal Project –Arizona 2006

OrmatOrmat –– 40 years of ORC technical innovation40 years of ORC technical innovation

GREEN ENERGY you can depend on

Innovative Technology Drives Exports40 years of ORC Technology Development40 years of ORC Technology Development

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Ormat Innovative Technology drives 80 U.S. vendors and subcontractors coast to coast, to emerging markets

Over 80 main suppliers

1984 1996

2000, 200520002005

800 kW OECWabuska, NV

125 MW Upper Mahiao Geothermal Power Plant Leyte, the Philippines

21 MW Burdette Geothermal Power Plant, NV

13 MW OkkariaGeothermal Power PlantNaivasha, Kenya

100 MW Mokai Geothermal Power PlantNew Zealand

Nationally and Internationally Recognized Leader in Geothermal

GREEN ENERGY you can depend on

60 MW Mokai Combined Geothermal Power Plant, New Zealand

2000

125 MW Upper Mahiao Combined Geo- Power Plant, Philippines

1996

57 MW Ormesa Binary Geothermal Complex, California

1987

20 MW Burdette Binary Geothermal Power Plant, Nevada

1994, 1998

2453

40 MW Heber Geothermal No. 2 Binary Power Plant, California,

1992

30 MW Puna Combined Geothermal Power Plant, Hawaii

1992

Ormat ORC TechnologyOrmat ORC Technology850 MW of Commercial Geothermal Power 850 MW of Commercial Geothermal Power

PlantsPlants

2006

GREEN ENERGY you can depend on

The Environmental ImpactThe Environmental Impact• One Megawatt of Geothermal Energy

will annually avoid(*):

– 8,666 tons of CO2 / MW – 36.6 tons of SO2 / MW– 12.5 tons of NOx / MW– 11,000 gallons of water / MW

(*) Off setting a coal-fired power plant at 38% efficiency*

Based on the International Energy Agency (IEA)

GREEN ENERGY you can depend on

OrmatOrmat’’ss Environmental ImpactEnvironmental Impact

• Ormat’s 800 MW of Geothermal Power around the world are annually avoiding:

– 6 million tons of CO2

– 2 million tons of Oil

– The equivalent fuel used by 800,000 cars

GREEN ENERGY you can depend on

Power Plant Technology Power Plant Technology ConsiderationsConsiderations

•• Successful geothermal power plants require Successful geothermal power plants require matching the geothermal resource with the optimum matching the geothermal resource with the optimum power plant.power plant.

•• Power generation factors are: (i) system simplicity; Power generation factors are: (i) system simplicity; (ii) maintenance requirements; (iii) reservoir (ii) maintenance requirements; (iii) reservoir management, (iv) environmental considerations, and management, (iv) environmental considerations, and (v) power plant reliability.(v) power plant reliability.

•• The optimum power cycle should allow injection of The optimum power cycle should allow injection of all of the geothermal fluid for long term reservoir all of the geothermal fluid for long term reservoir sustainability.sustainability.

GREEN ENERGY you can depend on

Binary Geothermal Power Plants

Combined Cycle Geothermal Power Plants

24 MW Zunil Geothermal Power Plant, Guatemala

30 MW PunaGeothermal Power Plant, Hawaii

Improving Project Viability by Matching Improving Project Viability by Matching the Geothermal Power Plant to the Resourcethe Geothermal Power Plant to the Resource

GREEN ENERGY you can depend on

The Promise of TomorrowThe Promise of Tomorrow

Emerging TechnologiesEmerging Technologies

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Field Proven, Low Temperature, Field Proven, Low Temperature, Ormat ORC Power PlantOrmat ORC Power Plant

• Collaborative R&D project with the Bureau of Reclamation and UTEP

• 70 kW Solar Pond

• ORC Power Unit at El Paso, Texas

• In operation from 1986 to 2002

• temperatures of 154ºF to 190ºF

GREEN ENERGY you can depend on

Oil and Gas CoOil and Gas Co--productionproduction• Ormat signed a shared-cost Cooperative Research

and Development Agreement (CRADA) with the US Department of Energy (DOE)

• Ormat will validate the feasibility of proven technology for the production of commercial electricity using hot water produced during the process of oilfield production.

• The project will be conducted at the DOE Rocky Mountain Oil Test Center (RMOTC), near Casper Wyoming, and will use an Ormat Organic RankineCycle (ORC) power generation system to produce commercial electricity.

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Texas lease acquisitionTexas lease acquisition•

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The Desert Peak Enhanced The Desert Peak Enhanced Geothermal SystemGeothermal System

• Collaborative R&D project:

• Ormat• Geothermex, Inc • University of Utah, Energy

& Geoscience Institute• University of Nevada

Reno• Cost Sharing with DOE

GREEN ENERGY you can depend on

Pre-Packaged Equipment Supply for Self ConstructPlug and Play On Site Geothermal PowerPlug and Play On Site Geothermal Power

First commercial geothermal application in Nevada. 800 kW OEC. with power supplied to Sierra Pacific Power Co.22 years of operation.

1984

800 MW Wabuska Geothermal Power Unit, Nevada.

Supplying local electrical power and energy for crop drying and cold storage since 1989.17 years of operation.

300 kW Egat Geothermal Power Plant, Thailand

1989

2004 2001 250 kW air-cooled geothermal CHP plant generating electrical power as well as district heating, by utilizing a low temperature geothermal resource. 5 years of operation

250 kW Geothermal Power Unit at Rogner Hotel & Spa,

Bad Blumau, Austria

Owner installed plant using Ormat supplied equipment, documentation and technical assistance.

1.8 MW Oserian Geothermal Power Plant in Naivasha, Kenya

Ormat supplied equipment for remote and rural applications

GREEN ENERGY you can depend on

On Site Power for Austrian EcoOn Site Power for Austrian Eco--Tourist ResortTourist Resort

250 kW OEC Power Plant Provides Power & Heat 250 kW OEC Power Plant Provides Power & Heat fromfrom 210210oo F Geothermal Fluid from Hot SpringF Geothermal Fluid from Hot Spring

Similar to the ORC power unit being supplied under the CRADA forinstallation at RMOTC Casper, Wyoming

GREEN ENERGY you can depend on

SummarySummary• Ormat’s success is a result of matching geothermal

resources with field proven, and time tested technologies.

• Ormat’s U.S. Geothermal generation has saved 2.5 million tons of CO2, 3,750 Tons of NOx, 3.3 million tons of H20

• Ormat is committed to innovation, and successfully implementing innovative technologies such as:• RMOTC / Oil & Gas• EGS• Plug & Play for onsite power

GREEN ENERGY you can depend on

BURDETTE GEOTHERMAL POWER PLANT NEVADA, USA

www.Ormat.comwww.Ormat.com