Exhibit 99.1

PRESS RELEASE

For Immediate Release

Ormat Technologies Contact:		Investor Relations Contact:
Dita Bronicki		Marybeth Csaby/Rob Fink
CEO		KCSA Strategic Communications
775-356-9029		212-896-1236 (Marybeth) /212-896-1206 (Rob)
dbronicki@ormat.com		mcsaby@kcsa.com/rfink@kcsa.com

ORMAT TECHNOLOGIES REPORTS FIRST QUARTER 2011 RESULTS
Total revenues — $97.8 million

RENO, Nevada, May 4, 2011 — Ormat Technologies, Inc. (NYSE: ORA) today announced financial results for the first quarter of 2011.

Quarterly highlights:

•

An 18% increase in total revenues year-over-year;

•

A 14% increase in electricity generation;

•

Continuing operational challenges in North Brawley resulting in quarterly loss;

•

Increase in Product Segment backlog;

•

Acquired lease rights on 8,000 acres and option to leases on 264,000 acres of privately held land.

Commenting on the results, Dita Bronicki, Chief Executive Officer of Ormat, stated: “Total revenue increased 18.4% driven by strong results in both our Electricity and Product Segments. Facilities added in the past year and the performance of most of our plants translated into growth in generation and in revenue, which increased to $78.3 million. Excluding North Brawley, gross margin from this segment in the first quarter of 2011 would have been approximately 30%.

While generation from North Brawley continued to increase and recently demonstrated capacity of 33 MW, operating costs remain high, affecting profitability in the segment and masking the achievements of our other plants. We continue with our efforts to address the operational issues, reduce O&M costs and increase the generation of the power plant.

During the quarter, we had further success in our Product Segment entering into new contracts for the supply of geothermal power plants and other power generating units outside of the United States. Product Segment backlog increased to approximately $84 million and we expect that the backlog of this segment will continue to grow with additional opportunities from international markets.

To support future development, we entered into agreements that will allow us to explore and develop projects on large blocks of privately owned land in the Pacific Northwest, which are not subject to the same delays that we experience on federal lands. Work on our early and advanced-stage projects continued to progress and we expect to add up to 220 MW to our generating capacity by the end of 2013.”

Financial Summary

For the three months ended March 31, 2011, total revenues were $97.8 million, compared to $82.7 million in the first quarter of 2010. Electricity Segment revenues increased by 18.4% to $78.3 million, up from $66.1 million in the first quarter of 2010. Total generation increased by 14.2% and the average revenue rate of the Company’s Electricity Segment was $75 per MWh. Product Segment revenues increased by 18.1% to $19.6 million, up from $16.5 million in the first quarter of 2010.

For the quarter, the Company reported net loss of $9.0 million, or $0.20 per share (basic and diluted), compared to net income of $1.8 million, or $0.04 per share (basic and diluted), for the same period a year ago. The decrease is principally attributable to the North Brawley power plant which had a pre-tax loss of approximately $10.3 million.

Adjusted EBITDA for the first quarter of 2011 was $27.2 million, compared to $32.1 million in the same quarter last year. Adjusted EBITDA includes consolidated EBITDA and the Company’s share in the interest, taxes, depreciation and amortization related to its unconsolidated 50% interest in the Mammoth complex in California in the three months ended March 31, 2010. The reconciliation of GAAP net cash provided by operating activities to Adjusted EBITDA and additional cash flows information is set forth below.

As of March 31, 2011, cash, cash equivalents and marketable securities were $64.8 million. In addition, as of March 31, 2011, the Company has available committed lines of credit with commercial banks aggregating $402.5 million, of which $223.7 million is unused.

On May 4, 2011, Ormat’s Board of Directors approved the payment of a quarterly dividend of $0.04 per share pursuant to the Company’s dividend policy, which targets an annual payout ratio of at least 20% of the Company’s net income. The dividend will be paid on May 25, 2011 to shareholders of record as of the close of business on May 18, 2011. The Company expects to pay a dividend of $0.04 per share in the next two quarters.

Commenting on the outlook for 2011, Ms. Bronicki said, “We continue to expect 2011 Electricity Segment revenues to total $315 to $325 million; in the Product Segment we are updating our revenues guidance to $80 to $85 million.”

Conference Call Details

Ormat will host a conference call to discuss its financial results and other matters discussed in this press release at 9:00 A.M. EDT on Thursday, May 5, 2011. The call will be available as a live, listen-only webcast at www.ormat.com. During the webcast, management will refer to slides that will be posted on the web site. The slides and accompanying webcast can be accessed through the Webcast & Presentations in the Investor Relations section of Ormat’s website.

The webcast will be available approximately 2 hours after the conclusion of the live call. A replay will be available from available from 1 p.m. EDT on May 5, 2011. Please call: (800) 642-1687 (U.S. and Canada) (706) 645-9291 (International) and enter the Reply code: 60633905.

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 75 U.S. patents. Ormat has engineered and built power plants, which it currently owns or has supplied to utilities and developers worldwide, totaling approximately 1,300 MW of gross capacity. Ormat’s current generating portfolio includes the following geothermal and recovered energy-based power plants: in the United States — Brady, Brawley, Heber, Jersey Valley, Mammoth, Ormesa, Puna, Steamboat, OREG 1, OREG 2, OREG 3 and OREG 4; in Guatemala — Zunil and Amatitlan; in Kenya — Olkaria III; and, in Nicaragua — Momotombo.

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 February 28, 2011.

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, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
For the Three-Month Periods Ended March 31, 2011 and 2010
(Unaudited)

		Three Months Ended March 31,
		2011				2010
		(in thousands, except per share amounts)
Revenues:
Electricity		$	78,268			$	66,105
Product			19,552				16,549
Total revenues			97,820				82,654
Cost of revenues:
Electricity			65,937				54,523
Product			16,890				12,437
Total cost of revenues			82,827				66,960
Gross margin			14,993				15,694
Operating expenses:
Research and development expenses			2,207				3,267
Selling and marketing expenses			2,660				3,202
General and administrative expenses			7,007				7,020
Operating income			3,119				2,205
Other income (expense):
Interest income			135				197
Interest expense, net			(13,080	)			(9,714	)
Foreign currency translation and transaction gains			517				434
Income attributable to sale of tax benefits			2,139				2,139
Other non-operating expense, net			(797	)			(359	)
Income (loss) from continuing operations before income taxes and equity in income (losses) of investees			(7,967	)			(5,098	)
Income tax benefit (provision)			(586	)			2,557
Equity in income (losses) of investees, net			(412	)			546
Loss from continuing operations			(8,965	)			(1,995	)
Discontinued operations:
Income from discontinued operations, net of related tax			—				14
Gain on sale of a subsidiary in New Zealand, net of related tax			—				3,766
Net income (loss)			(8,965	)			1,785
Net loss (income) attributable to noncontrolling interest			(10	)			53
Net income (loss) attributable to the Company’s stockholders		$	(8,975	)		$	1,838
Earnings (loss) per share attributable to the Company’s stockholders — basic and diluted:
Loss from continuing operations		$	(0.20	)		$	(0.04	)
Discontinued operations			—				0.08
Net income (loss)		$	(0.20	)		$	0.04
Weighted average number of shares used in computation of earnings (loss) per share attributable to the Company’s stockholders:
Basic			45,431				45,431
Diluted			45,431				45,457

Ormat Technologies, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
As of March 31, 2011 and December 31, 2010
(Unaudited)

		March 31,				December 31,
		2011				2010
		(in thousands)
Assets
Current assets:
Cash and cash equivalents		$	40,675			$	82,815
Marketable securities			24,149				—
Restricted cash, cash equivalents and marketable securities			54,828				23,309
Receivables:
Trade			70,491				54,495
Related entities			332				303
Other			6,544				8,173
Due from Parent			503				272
Inventories			14,554				12,538
Costs and estimated earnings in excess of billings on uncompleted contracts			3,531				6,146
Deferred income taxes			1,582				1,674
Prepaid expenses and other			13,791				14,929
Total current assets			230,980				204,654
Long-term marketable securities			—				1,287
Restricted cash, cash equivalents and marketable securities			—				1,740
Unconsolidated investments			3,832				4,244
Deposits and other			22,086				21,353
Deferred income taxes			17,087				17,087
Deferred charges			37,294				37,571
Property, plant and equipment, net			1,426,485				1,425,467
Construction-in-process			296,930				270,634
Deferred financing and lease costs, net			19,774				19,017
Intangible assets			39,479				40,274
Total assets		$	2,093,947			$	2,043,328
Liabilities and Equity
Current liabilities:
Accounts payable and accrued expenses		$	76,743			$	85,549
Billings in excess of costs and estimated earnings on uncompleted contracts			15,376				3,153
Current portion of long-term debt:
Limited and non-recourse			14,667				15,020
Full recourse			14,775				13,010
Senior secured notes (non-recourse)			20,990				20,990
Due to Parent, including current portion of notes payable to Parent			—				—
Total current liabilities			142,551				137,722
Long-term debt, net of current portion:
Limited and non-recourse			113,532				114,132
Full recourse:
Senior unsecured bonds			251,425				142,003
Other			80,920				84,166
Revolving credit lines with banks (full recourse)			118,500				189,466
Senior secured notes (non-recourse)			210,882				210,882
Liability associated with sale of tax benefits			83,894				66,587
Deferred lease income			70,324				71,264
Deferred income taxes			30,608				30,878
Liability for unrecognized tax benefits			4,294				5,431
Liabilities for severance pay			21,987				20,706
Asset retirement obligation			20,290				19,903
Other long-term liabilities			4,704				4,961
Total liabilities			1,153,911				1,098,101
Equity:
The Company’s stockholders’ equity:
Common stock			46				46
Additional paid-in capital			720,801				716,731
Retained earnings			210,046				221,311
Accumulated other comprehensive income			968				1,044
			931,861				939,132
Noncontrolling interest			8,175				6,095
Total equity			940,036				945,227
Total liabilities and equity		$	2,093,947			$	2,043,328

Ormat Technologies, Inc. and Subsidiaries
Reconciliation of EBITDA and Adjusted EBITDA and Additional Cash Flows Information
For the Three-Month Periods Ended March 31, 2011 and 2010
(Unaudited)

We calculate EBITDA as net income before interest, taxes, depreciation and amortization. We calculate adjusted EBITDA to include depreciation and amortization, interest and taxes attributable to our equity investments in the Mammoth complex. EBITDA and adjusted EBITDA are not measurements of financial performance or liquidity under accounting principles generally accepted in the United States of America and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net earnings as indicators of our operating performance or any other measures of performance derived in accordance with accounting principles generally accepted in the United States of America. EBITDA and adjusted EBITDA are presented because we believe they are frequently used by securities analysts, investors and other interested parties in the evaluation of a Company’s ability to service and/or incur debt. However, other companies in our industry may calculate EBITDA and adjusted EBITDA differently than we do. The following table reconciles net cash provided by operating activities to EBITDA and adjusted EBITDA, for the three-month periods ended March 31, 2011 and 2010:

		Three Months Ended March 31,
		2011				2010
		(in thousands)
Net cash provided by operating activities		$	13,066			$	48,240
Adjusted for:
Interest expense, net (excluding amortization of deferred financing costs)			12,296				9,021
Interest income			(135	)			(197	)
Income tax benefit			586				19
Adjustments to reconcile net income (loss) to net cash provided by operating activities (excluding depreciation and amortization)			1,339				(26,006	)
EBITDA			27,152				31,077
Interest, taxes, depreciation and amortization attributable to the Company’s equity in Mammoth-Pacific L.P.			—				973
Adjusted EBITDA		$	27,152			$	32,050
Net cash used in investing activities		$	(107,924	)		$	(64,981	)
Net cash provided by financing activities		$	52,718			$	13,545
Depreciation and amortization		$	23,370			$	20,449