News Release
Construction to Start on Mega-Solar Project
23 MW Maximum Output in Tenri City, Nara Prefecture
Feb 18, 2015
TOKYO, Japan - February 18, 2015 - ORIX Corporation (hereinafter, "ORIX"), a leading integrated financial services group, and Kyudenko Corporation (hereinafter, "Kyudenko") announced today that they will jointly construct a large-scale solar power plant (mega-solar), Tenri City Solar Park No.1 Power Plants (tentative), with a maximum output of 23 MW (23,062kW) on a piece of land leased from Tenri city, Nara prefecture.
| Location | 5498 Hukusumi-cho, Tenri city, Nara prefecture |
|---|---|
| Power Generation Capacity (module capacity) | 23,062kW |
| Installation area | Approx. 245,900m2 |
| Number of installed panels | 90,440 |
| Projected annual power generation (First fiscal year) | 24,806,800kWh (planned) Equivalent to the annual power consumption of approximately 6,890 households* |
| Project owner | K Clean Energy Nara Corporation (ORIX: 70%, Kyudenko: 30%) |
| Construction | Kyudenko |
| Maintenance/Operation | Kyudenko |
| Start of construction | February 1, 2015 |
| Start of operations | February , 2017 (planned) |
(*)1 Calculation based on consumption of 3,600kWh a year per household.
Source: Electricity Statistics Information by Federation of Electric Power Companies of Japan
Going forward, ORIX and Kyudenko will continue to actively pursue joint development of environment and energy-related businesses, and contribute to the wider usage of solar power and other renewable energies.
Contact Information:
ORIX Corporation
Corporate Planning Department
Tel: +81-3-3435-3121
About ORIX:
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses. Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 35 countries and regions across the world. ORIX celebrates its 50th anniversary in 2014 and moving forward it aims to contribute to society while continuing to capture new business opportunities and sustain growth by promoting acceleration of its corporate strategy "Finance + Services." For more details, please visit our website: http://www.orix.co.jp/grp/en/
Caution Concerning Forward Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "4. Risk Factors" of the "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2013 - March 31, 2014."
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