Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Ormat Technologies, Inc.

Law Offices of Howard G. Smith announces that it is investigating potential claims against Ormat Technologies, Inc. ("Ormat” or the "Company”) (NYSE:ORA) concerning possible securities violations related to the Company’s public statements regarding its financial performance. Ormat 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 investigation concerns Ormat’s February 24, 2010, announcement that the Company’s financial statements contained in its Annual Report on Form 10-K for the year ended December 31, 2008, require restatement and should no longer be relied upon. According to the announcement, through the third quarter of 2009 the Company accounted for exploration and development costs using an accounting method that was inappropriate in certain respects. The impact of the restatement is a decrease of approximately $6.2 million in net income, or $0.14 per share, during the year end and fourth quarter ended December 31, 2008, representing a reduction of 12.6% from its originally reported net income of $49.5 million in 2008 and a reduction of 53.6% from its originally reported net income of $11.6 million in the fourth quarter of 2008.

If you own shares of Ormat stock and suffered a loss, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.