Ormat, Solar Millennium to participate in solar thermal power plant tender

Reno, Nev., September 14, 2010 – Ormat Systems Ltd., agreed with Solar Millennium AG to form a consortium to participate in the tender to develop, construct and operate a solar thermal power plant at Ashalim in Israel with a total capacity of about 120 MW.

Solar Millennium is a German stock corporation, specialized in the worldwide development and realization of solar thermal power plants.

Under the MOU, Solar Millennium will provide the technology for the solar field, while Ormat will supply the power block, balance of plant and construction services.

Ormat will own about 68 percent of the consortium and Solar Millennium will own about 32 percent. Both parties have successfully passed the pre-qualification stage and were invited to submit the bid within the tender for plot A.

The tender is a BOT (build, operate and transfer) solar thermal power plant, on land owned and provided by the Israeli government. The produced electricity is fed into the grid of Israel Electric Corp. The term of BOT will be about 25 years.

The Ashalim project will mark a further expansion into the solar energy market by renewable energy firm, Ormat Technologies. Ormat has more than four decades of experience in the development, construction, financing and operation of some 1,300 MW of renewable energy projects worldwide.

Solar Millennium is one of the leading companies in the solar thermal power plant market and has developed the first European parabolic trough power plants.

These 50 MW each solar power plants in the South of Spain have been realized together with partners. Solar Millennium is also developing or realizing further plants in Egypt, the U.S. and other countries.

Ormat Technologies, Inc. is a 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.

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