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Ormat Funding Corp. Declares The Expiration And Effective Date Of Its Previously Announced Consent Solicitation

RENO, Nev., Dec. 10, 2012 /PRNewswire/ -- Ormat Funding Corp. (the "Company"), a wholly owned subsidiary of Ormat Technologies, Inc. (NYSE: ORA),  declared the Expiration and Effective Date of the consent solicitation launched  on December 3, 2012 relating to its 8 1/ 4% Senior Secured Notes due December 30, 2020 (CUSIP Number: 686685AB4) (the "Consent Solicitation"). Holders of more than 66% of the aggregate principal amount of outstanding Notes have delivered and not revoked their valid consents. The consent and waivers granted pursuant thereto are no longer revocable, effective at 5:00 p.m. New York time, on December 7, 2012.

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

Barclays Capital Inc. acted as the Solicitation Agent for the Consent Solicitation. Union Bank, N.A., served as the Tabulation and Information Agent for the Consent Solicitation.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any solicitation of consent in any state in which such solicitation or the acceptance thereof would be unlawful.

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 Funding Corp.'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 29, 2012 and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2012.

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.

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