Ormat Technologies, Inc'

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• Ormat Technologies, Inc.
• U.S. Geothermal Development
• Technology and Market Forces
• The Reality of Today, and the Promise of
  Tomorrow
• Power-Gen 2007

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Disclaimer
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.
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Table of Contents

• Ormat
• Ormat ORC Technology
• Environmental Benefits
• Market Drivers
• Emerging Technologies
• RMOTC/ TX
• EGS
• Plug Play
• Summary

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ORMAT 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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Ormat 40 years of ORC technical innovation
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 - 1982
1 MW ORC Solar Thermal Project Arizona 2006
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40 years of ORC Technology Development
Innovative Technology Drives Exports
Ormat Innovative Technology drives 80 U.S.
vendors and subcontractors coast to coast, to
emerging markets
Over 80 main suppliers
1996
1984
800 kW OEC Wabuska, NV
125 MW Upper Mahiao Geothermal Power Plant Leyte,
the Philippines
Nationally and Internationally Recognized Leader
in Geothermal
2000, 2005
2000
2005
21 MW Burdette Geothermal Power Plant, NV
13 MW Okkaria Geothermal Power Plant Naivasha,
Kenya
100 MW Mokai Geothermal Power Plant New Zealand
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Ormat ORC Technology 850 MW of Commercial
Geothermal Power Plants
1992
30 MW Puna Combined Geothermal Power Plant, Hawaii
2006
1992
1994, 1998
2000

60 MW Mokai Combined Geothermal Power Plant, New
Zealand
40 MW Heber Geothermal No. 2 Binary Power Plant,
California,
20 MW Burdette Binary Geothermal Power Plant,
Nevada
2453
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The 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)
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Ormats Environmental Impact

• Ormats 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

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KEY POLICY MARKET DRIVERS

• PRODUCTION TAX CREDIT (PTC)
• 10 year tax credit to owner if project in service
  by 12/31/2008
• 0.019/kwh tax credit for energy sold
• Impact depends on tax liability of
  developer/owner
• INVESTMENT TAX CREDIT (ITC)
• Available now at 10 of equipment capital costs
• Permanent credit, but may not be taken with PTC
• RENEWABLE PORTFOLIO STANDARD (RPS)
• Nevada RPS 20 renewable by 2015
• California RPS 20 renewable by 2010
• Hawaii RPS 20 renewable by 2020
• 29 States have implemented some form of an RPS

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Power Plant Technology Considerations

• Successful geothermal power plants require
  matching the geothermal resource with the optimum
  power plant.
• Power generation factors are (i) system
  simplicity (ii) maintenance requirements (iii)
  reservoir management, (iv) environmental
  considerations, and (v) power plant reliability.
• The optimum power cycle should allow injection of
  all of the geothermal fluid for long term
  reservoir sustainability.

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Improving Project Viability by Matching the
Geothermal Power Plant to the Resource
Binary Geothermal Power Plants
24 MW Zunil Geothermal Power Plant, Guatemala
Combined Cycle Geothermal Power Plants
30 MW Puna Geothermal Power Plant, Hawaii
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The Promise of Tomorrow

• Emerging Technologies

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Field Proven, Low Temperature, Ormat ORC Power
Plant

• Collaborative RD 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

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Oil and Gas Co-production

• 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 Rankine
  Cycle (ORC) power generation system to produce
  commercial electricity.

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Texas lease acquisition

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The Desert Peak Enhanced Geothermal System

• Collaborative RD project
• Ormat
• Geothermex, Inc
• University of Utah, Energy Geoscience Institute
• University of Nevada Reno
• Cost Sharing with DOE

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Pre-Packaged Equipment Supply for Self Construct
Plug and Play On Site Geothermal Power
Ormat supplied equipment for remote and rural
applications
1989
1984
Supplying local electrical power and energy for
crop drying and cold storage since 1989.17 years
of operation.
First commercial geothermal application in
Nevada. 800 kW OEC. with power supplied to
Sierra Pacific Power Co.22 years of operation.
800 MW Wabuska Geothermal Power Unit, Nevada.
300 kW Egat Geothermal Power Plant, Thailand
2001
2004
Owner installed plant using Ormat supplied
equipment, documentation and technical assistance.
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
1.8 MW Oserian Geothermal Power Plant in
Naivasha, Kenya
250 kW Geothermal Power Unit at Rogner Hotel
Spa, Bad Blumau, Austria
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On Site Power for Austrian Eco-Tourist Resort
250 kW OEC Power Plant Provides Power Heat
from 210o F Geothermal Fluid from Hot Spring

Similar to the ORC power unit being supplied
under the CRADA for installation at RMOTC Casper,
Wyoming
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Summary

• Ormats success is a result of matching
  geothermal resources with field proven, and time
  tested technologies.
• Ormats 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

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www.Ormat.com
BURDETTE GEOTHERMAL POWER PLANT NEVADA, USA