We advised the representatives of the several initial purchasers on the offering

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Ormat Technologies, Inc. of an aggregate principal amount of $825 million of its 1.50% Series A convertible senior notes due 2031, which included $100 million aggregate principal amount of Series A notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes and aggregate principal amount of $175 million of its 0.00% Series B convertible senior notes due 2031, which included $25 million aggregate principal amount of Series B notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes.

Ormat Technologies, Inc. is a leading vertically integrated company primarily engaged in the geothermal power business. It leverages its core capabilities, proprietary technologies, and global presence to expand its activities in conventional geothermal development, recovered energy generation and emerging geothermal technologies, including piloting of new Enhanced Geothermal Systems technologies. In addition, it is expanding into different complementary energy solutions, including stand alone utility scale energy storage services and solar photovoltaic (“solar PV”) generation (including hybrid geothermal and solar PV as well as solar plus energy storage).

The Davis Polk corporate team included partner Yasin Keshvargar and associates Ryan Mainous and Junie Khang. The equity derivatives team included partner Mark M. Mendez and associate Alexander S. Pettingell. Partner Aliza Slansky, associate Yueyu Yang provided tax advice. Partner Pritesh P. Shah and associate Francesca Masella provided intellectual property advice. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.

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