Construction to Start on Mega-Solar Project with 52.5-MW Maximum Output in Soma City, Fukushima Prefecture
May 19, 2015
TOKYO, Japan - May 19, 2015 - ORIX Corporation (hereinafter, "ORIX"), a leading integrated financial services group, along with Kyudenko Corporation (hereinafter, "Kyudenko"), Beltecno Energy Corporation (hereinafter, "Beltecno Energy"), Kyuden Mirai Energy Company, Incorporated (hereinafter "Kyuden Mirai Energy"), and Hokuto Electrical Construction Corporation(Hokuto Denki Setsubi Kouji) (hereinafter, "Hokuto Electrical") announced today that they will jointly establish the Renatus Soma Solar Park Limited Liability Company and begin construction of a large-scale solar (mega-solar) power plant with a maximum output of 52.5 MW (52,452 kW) on land located in the Isobe district of Soma City, Fukushima Prefecture.
|Location||Seriyachi, Isobe, Soma City, Fukushima Prefecture|
|Power Generation Capacity (module capacity)||52,452 kW|
|Installation Area||Approx. 700,000 m2|
|Number of Panels||Approx. 198,000|
|Projected Annual Power Generation||Approx. 60,000,000 kWh
Equivalent to the annual power consumption of approximately 16,660 ordinary households (*)
|Project Owner||Renatus Soma Solar Park Limited Liability Co.
(Kyudenko: 40%, ORIX: 30%, Beltecno Energy: 19.8%, Kyuden Mirai Energy: 10%, Hokuto Electrical: 0.2%)
|Construction||Kyudenko and Hokuto Electrical|
|Start of Construction||July 1, 2015|
|Start of Operations||June 2017|
■Concept image of completed solar plant
The Isobe district of Soma City was struck by tsunami during the Great East Japan Earthquake in 2011 , and the seawater infiltration increased soil salinity, making farming nearly impossible. As a result, the diversion of farmland for non-farming uses was approved in March 2015. In order to proceed with the construction of a mega-solar plant, five companies led by Kyudenko and including a local firm have entered into a land use agreement with landowners.
As the project moves forward, the companies plan to contribute to the community through measures such as donating a portion of the revenue from the project to stimulate local agriculture, and creating employment opportunities locally by contracting out maintenance work.
Kyudenko, ORIX, Beltecno Energy, Kyuden Mirai Energy, and Hokuto Electrical will continue their collaboration on the project ahead of the start of the mega-solar power plant's operations, and contribute to the wider use of renewable energies.
Corporate Planning Department
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 its first overseas expansion into Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in a total of 36 countries and regions across the world. Moving forward, ORIX aims to contribute to society while continuing to capture new business opportunities. 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, 2014 - March 31, 2015."
- View PDF of this release