Item 1.01.		Entry into a Material Definitive Agreement.

On November 22, 2011, Ormat Nevada Inc. (“ONI”), a wholly-owned subsidiary of Ormat Technologies, Inc. (the “Company”), entered into a Credit Agreement (the “Credit Agreement”) with Lightning Dock Geothermal HI-01, LLC (“LDG”) in connection with ONI’s financing of an LDG-owned geothermal power facility to be constructed by ONI as an engineering, procurement and construction (“EPC”) contractor in New Mexico (the “Project”). The financing, in an aggregate principal amount not to exceed $66 million, will be extended by ONI and used to finance the Project construction costs under the EPC contract with LDG. The extension of credit under the Credit Agreement will occur in installments during the construction of the Project upon ONI’s completion of specified construction milestones in the value amounts agreed upon by LDG and ONI for each such milestone. The financing and construction of the Project are subject to the fulfillment of customary and other specified conditions precedent.

Absent delays, completion and final acceptance of the Project construction work (“Final Acceptance”) is scheduled to occur approximately two years after the issuance of the Project notice to proceed. Thereafter, the principal amount outstanding under the Credit Agreement will bear interest at an agreed rate, payable monthly in arrears. The credit extended under the Credit Agreement will mature not later than two and one-half years after Final Acceptance, at which time the outstanding principal amount will be due and payable by LDG. If LDG receives a cash grant from the U.S. Department of the Treasury under Section 1603 of the American Recovery and Reinvestment Act of 2009 (or any successor or replacement to such cash grant) with respect to LDG’s investment in the construction of the Project, the cash grant will be paid to ONI upon the Project achieving the minimum capacity generation requirement agreed upon by ONI and LDG as a mandatory prepayment of the outstanding principal amount. Amounts financed by ONI under the Credit Agreement may be reduced or forgiven if, under certain circumstances, the Project does not meet the performance criteria agreed upon by LDG and ONI, or upon the occurrence of an event of default by ONI under the EPC Contract.

The credit extended by ONI to LDG under the Credit Agreement is secured by a first priority perfected security interest in, and real property mortgage lien on, the Project assets of LDG and by a pledge by LDG’s sole member, Los Lobos Renewable Power, LLC, of its membership interests in LDG. The Credit Agreement and related security document contain customary affirmative and negative covenants for LDG, including, among other affirmative covenants, maintenance of the LDG’s geothermal business, corporate existence, insurance, property rights and books and records, and including, among other negative covenants, restrictive covenants that limit, subject to certain exceptions, LDG’s ability to incur other indebtedness, pay distributions, merge or consolidate with another person or grant liens on the collateral securing the indebtedness under the Credit Agreement.

Under the EPC contract, ONI agrees to engineer, procure, and construct, on a turnkey basis, the Project geothermal power generation facility, the gathering systems, and the transmission line. The EPC contract provides for agreed upon liquidated damages and remedies for LDG if there are Project delays or performance issues attributable to ONI. The EPC contract work is scheduled to be released in stages based on LDG’s progress in the well field drilling and development necessary to support the Project. Early engineering will be released as soon as the