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Ormat Funding Corp. Announces Launch Of Consent Solicitation









RENO, Nev., Dec. 3, 2012 /PRNewswire/ -- Ormat Funding Corp. (the "Company"), a wholly owned subsidiary of Ormat Technologies, Inc. (NYSE: ORA), announced today that it has launched a consent solicitation relating to its 8 1/4% Senior Secured Notes due December 30, 2020 (CUSIP Number: 686685AB4). The record date to determine holders of the Notes eligible to consent is November 21, 2012. The consent solicitation expires at 5:00 p.m., New York time, on December 7, 2012, unless extended by the Company (the "Expiration Date"). The consent solicitation is made upon the terms and subject to the conditions set forth in the Consent Solicitation Statement dated December 3, 2012, which is being mailed to all holders of the Notes.

(Logo: http://photos.prnewswire.com/prnh/20040422/LATH066LOGO)

The consent solicitation is being conducted in order to waive certain provisions in the Indenture governing the Notes. Receipt of valid and not revoked written consents from holders of at least 66% of the aggregate principal amount of outstanding Notes will constitute acceptance of the consent solicitation whereupon the consent and the waivers granted pursuant thereto shall be effective and consents shall no longer be revocable, all as more fully described in the Consent Solicitation Statement. Holders of Notes may withdraw their consent at any time prior to the date on which consents have been delivered and not validly revoked by holders of at least 66% of the aggregate principal amount of the outstanding Notes.

The Company has retained Barclays Capital Inc. as the Solicitation Agent for the consent solicitation.  Union Bank, N.A., is the Tabulation and Information Agent for the consent solicitation. Questions regarding the consent solicitation may be directed to the Liability Management Group at Barclays Capital Inc. at 800-438-3242 (toll-free) or 212-528-7581 (collect). Requests for copies of the Consent Solicitation documents may be directed to the Tabulation and Information Agent at 415-273-2518 or the Company at 775-771-6801.

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