Exhibit 99.1

PRESS RELEASE

ORMAT TECHNOLOGIES REPORTS 2012 SECOND QUARTER RESULTS

Quarterly revenues increased 24 percent to $129.8 million;

Q2 net income of $8.7 million

(RENO, Nev.) August 1, 2012 - Ormat Technologies, Inc. (NYSE: ORA) today announced financial results for the second quarter of 2012.

Quarterly highlights and recent developments:

Commenting on the results, Dita Bronicki, chief executive officer of Ormat, stated: “We had a very good second quarter. Total revenues increased 24 percent period-over-period. Operating income significantly improved. Our organic growth and improved operations results offset the impact of low natural gas prices on our energy rates under the SO#4 PPAs in California.

“We achieved a number of key milestones during the second quarter. On the product side, we continued to win orders and strengthen our already robust backlog. In July, we announced the closing of a $61.4 million engineering, procurement and construction contract with Enel Green Power North America, maintaining our robust product backlog of $242 million. On the electricity side, we recently received off-taker approval of the commercial operation date for our Tuscarora power plant. In addition, we successfully completed the construction of the 30-MW McGinness Hills geothermal power plant demonstrating the strength of our vertically integrated structure to move from green field to production. The 30 MW McGinness Hills power plant that is in full operation since June, increased the total generating capacity of our portfolio to 586 MW.”

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Financial Summary

Second Quarter Results

For the three months ended June 30, 2012, total revenues increased by 24.1 percent to $129.8 million from $104.6 million in the second quarter of 2011. Product revenues almost doubled to $44.8 million, from $23.4 million in the three months ended June 30, 2011. Electricity revenues increased 4.7 percent to $85.0 million, up from $81.2 million in the three months ended June 30, 2011.

Operating income for the three months ended June 30, 2012 increased by $6.6 million to $26.0 million from $19.4 million for the three months ended June 30, 2011. The increase is principally attributed to lower maintenance costs in our electricity segment and higher revenues in our product segment due to the increase in new customer orders that were secured in 2011.

For the quarter, the company reported net income of $8.7 million, or $0.19 per share (basic and diluted), compared to $8.2 million, or $0.18 per share (basic and diluted), for the same quarter a year ago.

EBITDA for the second quarter of 2012 was $50.8 million, compared to $47.7 million for the same quarter last year. The reconciliation of GAAP net cash provided by operating activities to EBITDA and additional cash flows information is set forth below.

As of June 30, 2012, cash, cash equivalents and marketable securities were $71.9 million. In addition, as of June 30, 2012, the company has available, committed lines of credit with commercial banks aggregating $466.8 million, of which $64.8 million is unused.

On August 1, 2012, 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 percent of the company’s net income. The dividend will be paid on August 23, 2012 to shareholders of record as of the close of business on August 14, 2012. The company expects to pay a dividend of $0.04 per share in the next quarter.

Commenting on the outlook for 2012, Bronicki said, “We currently maintain our 2012 product revenues to be $165 to $175 million. We narrow the range of our expected electricity forecast to be between $320 and $330 million.”

Six-Month Results

For the six months ended June 30, 2012, total revenues increased 29.5 percent to $262.2 million from $202.4 million in the six months ended June 30, 2011. Net income for the period was $16.7 million, or $0.36 per share (basic and diluted), compared to net loss of $0.7 million, or $0.02 per share (basic and diluted), in the same period in 2011. The increase is principally attributable to the $29.2 million increase in operating income.

Product revenues more than doubled to $94.9 million, from $43.0 million in the six months ended June 30, 2011. Electricity revenues increased 4.9 percent to $167.3 million, up from $159.5 million in the six months ended June 30, 2011.

EBITDA for the six months ended June 30, 2012 was $102.3 million, compared to $74.8 million for the same period last year. The reconciliation of GAAP net cash provided by operating activities to EBITDA and additional cash flows information is set forth below.

Conference Call Details

Ormat will host a conference call to discuss its financial results and other matters included in this press release at 10 a.m. EDT on Thursday, August 2, 2012. 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.

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The webcast will be available approximately two hours after the conclusion of the live call. A replay will be available from 11 a.m. EDT on August 2, 2012. Please call: (855) 859-2056 (U.S. and Canada) (404) 537-3406 (International) and enter the replay code: 99938996.

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 82 U.S. patents. Ormat has engineered and built power plants that it currently owns or has supplied to utilities and developers worldwide, totaling over 1,500 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, McGinness Hills, Ormesa, Puna, Steamboat, Tuscarora, 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 29, 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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Ormat Technologies, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

For the Three and Six-Month Periods Ended June 30, 2012 and 2011

(Unaudited)

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Ormat Technologies, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

As of June 30, 2012 and December 31, 2011

(Unaudited)

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Ormat Technologies, Inc. and Subsidiaries

Reconciliation of EBITDA and Additional Cash Flows Information

For the Three and Six-Month Periods Ended June 30, 2012 and 2011

(Unaudited)

We calculate EBITDA as net income before interest, taxes, depreciation and amortization. EBITDA is not a measurement 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 is presented because we believe it is 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 differently than we do. The following table reconciles net cash provided by operating activities to EBITDA for the three and six-month periods ended June 30, 2012 and 2011:

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