Exhibit 99.1

PRESS RELEASE

Ormat Technologies Reports 2014 Fourth Quarter and Year End Results

With Record Revenues of $559.5 Million and Operating Income of $143.5 Million

Operating income grew 48.0% Year over Year

Adjusted EBITDA Grew 13.1% Year over Year

RENO, Nevada, February 24, 2015 -- Ormat Technologies, Inc. (NYSE: ORA) today announced financial results for the fourth quarter and full year ended December 31, 2014.

Financial highlights for the full year:

Operational and business developments:

Isaac Angel, chief executive officer of Ormat, stated, “This was an important year of progress and operational success. The recently announced share exchange transaction and the formation of the joint venture and the equity investment by Northleaf represent key milestones to increase shareholder value. We delivered growth and improved profitability, meeting our operational targets. We enter 2015 with a healthy balance sheet, a strong pipeline, a balanced portfolio of operational and emerging projects around the world, strengthened by the contribution of the Don A. Campbell, Olkaria – Plant 3, and the recent initial operation of phase 2 of our McGinness Hills plant. This year, we will build upon the strong operating results within our electricity segment as we begin work on phase 2 of our Don A. Campbell plant, which we expect to complete by Q1 2016.”

“I’m glad to report that Northleaf, our new joint venture partner, will purchase a minority interest and add the Don A. Campbell phase 2 to the existing joint venture once it is completed and tested, validating our expectation that this relationship will represent a long-term, mutual beneficial arrangement that also monetizes our operational assets at an attractive valuation.”

“In the product segment, we have secured $41.0 million in new orders since the end of the third quarter, positioning our product backlog as of February 16, 2015 at approximately $326.0 million” continued Mr. Angel.

“In addition to our operational and business accomplishments this year, as new management, we also focus on enhancing shareholder value,” continued Mr. Angel. “We completed a share exchange transaction and now our shares trade on multiple stock exchange markets. We believe that increasing the float to 76% of the total shares outstanding will help improve the liquidity of our common stock and better position Ormat to new investors.”

Guidance

Mr. Angel added, “We expect our 2015 electricity revenues to be between $380.0 million and $390.0 million and our product segment revenues to be between $180.0 million and $190.0 million.

In addition, as we continue to make operational progress and monetize our assets, we felt it was an appropriate time to transition to a more traditional, operational-focused methodology for calculating Adjusted EBITDA. For 2015, we expect to generate Adjusted EBITDA of $280.0 to $290.0 million. On our call we will present the historical adjusted EBITDA based on this methodology.”

Financial Summary 

Annual Results

For the year ended December 31, 2014, total revenues increased 4.9% from $533.2 million in 2013 to $559.5 million in 2014. Electricity Segment revenues increased 15.9% from $329.7 million in 2013 to $382.3 million in 2014. This increase was primarily due to the contribution of the Olkaria III complex in Kenya and our Don A. Campbell power plant in Nevada. Additionally the increase was a result of higher energy rates under the SO#4 contracts and net gain on derivative contracts on oil and natural gas prices of $5.7 million in the year ended December 31, 2014, compared to a net loss of $5.0 million over the corresponding period in 2013. Product revenues decreased 12.9% to $177.2 million in 2014 compared to $203.5 million in 2013.

Operating income for the full year 2014 was $143.5 million, up 48.0%, compared to $97.0 million in 2013.

The company reported that net income attributable to the company’s shareholders increased 31.4% to $54.2 million or $1.18 per share in full year 2014 compared to $41.2 million or $0.91 per share.

Full-year results were impacted by a $15.4 million write-off of unsuccessful exploration activities related to our exploration activities in the Wister site in California and in the Mount Spurr site in Alaska. After conducting exploratory studies in those sites, management concluded that the geothermal resource as well as the commercial environment would not support commercial operations at the foreseeable future. Costs associated with exploration activities (including up-front bonus lease costs of approximately $3.5 million) at these sites were expensed accordingly. Excluding these costs net income attributable to the company’s shareholders increased 68.8% to $69.6 million or $1.51 per share in full year 2014 compared to $41.3 million or $0.91 per share.

Adjusted EBITDA for the year ended December 31, 2014 was $272.7 million, compared to $241.0 million for the year ended December 31, 2013. The reconciliation of GAAP net cash provided by (used in) operating activities and net income to EBITDA and Adjusted EBITDA and additional cash flows information is set forth below in this release.

Net cash provided by operating activities was $213.2 million in the year ended December 31, 2014, compared to $86.8 million in the year ended December 31, 2013.

As of December 31, 2014, cash, cash equivalents were $40.2 million. In addition, as of December 31, 2014, the company had $198.0 million of unused corporate borrowing capacity under existing lines of credit with different commercial banks.

Fourth Quarter Results

For the three months ended December 31, 2014, total revenues reached $149.8 million from $130.9 million in the fourth quarter of 2013, an increase of 14.0%. Electricity revenues increased 10.1% to $93.3 million in the three months ended December 31, 2014, from $84.7 million in the three months ended December 31, 2013. Product revenues increased 21.2% to $56.0 million in the three months ended December 31, 2014, from $46.2 million in the three months ended December 31, 2013.

The three months ended December 31, 2014 results were mainly impacted by a $7.3 million write-off of unsuccessful exploration activities related to the Mount Spurr site in Alaska and approximately $3.0 million increase in income tax costs mainly due to the impact of the devaluation of the shekel against the dollar and its impact on the tax expense in Israel.

The company reported net income attributable to the company’s shareholders of $7.0 million or $0.15 per share and $14.3 million or $0.31 per share excluding $7.3 million write-off of unsuccessful exploration work. For the three months ended December 31, 2013, the company reported net income attributable to the company’s shareholders of $8.2 million or $0.18 per share and $12.3 million or $0.27 per share excluding $4.1 million write-off of unsuccessful exploration work.

Adjusted EBITDA for the three months ended December 31, 2014 was $68.3 million, compared to $62.2 million for the three months ended December 31, 2013. The reconciliation of GAAP net cash provided by (used in) operating activities and net income to EBITDA and Adjusted EBITDA and additional cash flows information is set forth below in this release.

On February 24, 2015, ORMAT’s Board of Directors approved a payment of a quarterly dividend of $0.08 per share pursuant to the company’s dividend policy; the dividend paid targets an annual payoff ratio of at least 20% of the company’s net income. The dividend will be paid on March 27, 2015 to shareholders of record as of closing of business on March 16, 2015. In addition, the company expects to pay quarterly dividends of $0.06 per share in the next three quarters.

Conference Call Details

Ormat will host a conference call to discuss its financial results and other matters discussed in this press release at 10 a.m. EST on Wednesday, February 25, 2015. 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 website. The slides and accompanying webcast can be accessed through the Events & Presentations in the Investor Relations section of Ormat's website.

An archive of the webcast will be available approximately 30 minutes after the conclusion of the live call.

Please ask to be joined into the Ormat Technologies, Inc. call. 

PARTICIPANT TELEPHONE NUMBERS

PARTICIPANT DIAL IN (TOLL FREE):                1-877-511-6790

PARTICIPANT INTERNATIONAL DIAL IN:      1-412-902-4141

Canada Toll Free     18556699657

CONFERENCE REPLAY

US Toll Free:      1-877-344-7529

International Toll:            1-412-317-0088

Canada Toll Free:             855-669-9658

Replay Access Code:      10059522

About Ormat Technologies

With over four decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company solely engaged in geothermal and recovered energy generation (REG). The company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter - a power generation unit that converts low-, medium- and high-temperature heat into electricity. With 69 U.S. patents, Ormat’s power solutions have been refined and perfected under the most grueling environmental conditions. Ormat has 470 employees in the United States and over 600 overseas. Ormat’s flexible, modular solutions for geothermal power and REG are ideal for the vast range of resource characteristics. The company has engineered, manufactured and constructed power plants, which it currently owns or has installed to utilities and developers worldwide, totaling over 1,900 MW of gross capacity. Ormat’s current 647 MW generating portfolio is spread globally in the U.S., Guatemala and Kenya.

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 28, 2014.

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.

Ormat Technologies, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

For the Three-Month Periods and Years Ended December 31, 2014 and 2013

(Unaudited)

Ormat Technologies, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

As of December 31, 2014 and December 31, 2013

(Unaudited)

Ormat Technologies, Inc. and Subsidiaries

Reconciliation of EBITDA, Adjusted EBITDA and Additional Cash Flows Information

For the Three-Month Periods and Years Ended December 31, 2014 and 2013

(Unaudited)

We calculate EBITDA as net income before interest, taxes, depreciation and amortization. We calculate Adjusted EBITDA as net income before interest, taxes, depreciation and amortization, adjusted for (i) termination fees, (ii) impairment of long-lived assets, (iii) write-off of unsuccessful exploration activities,(iv) any mark-to-market gains or losses from accounting for derivatives, (v) merger and acquisition transaction cost, (vi) stock-based compensation, (vii) gain from extinguishment of liability, and (viii) gain on sale of subsidiary and property, plant and equipment. EBITDA and Adjusted EBITDA are 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 and Adjusted EBITDA are presented because we believe they are 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 and Adjusted EBITDA differently than we do.

The following tables reconcile net cash provided by (used in) operating activities and net income to EBITDA and Adjusted EBITDA for the three-month periods and years ended December 31, 2014 and 2013:

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