ORIX Participates in the Development of Kashima Port Large-Scale Offshore Wind Farm
May 28, 2015
TOKYO, Japan - May 28, 2015 - ORIX Corporation (hereinafter, "ORIX"), a leading integrated financial services group, Wind Power Group K.K. (hereinafter, "Wind Power Group"), a member of the Komatsuzaki Group, and SB Energy Corporation (hereinafter, "SB Energy"), announced today that ORIX has agreed to participate in the joint development and construction of Kashima Port Large-Scale Offshore Wind Farm (hereinafter, the "Project") which is to be built offshore of Kashima Port in Kamisu City, Ibaraki Prefecture. The equity investment by ORIX into the Project company was also completed today.
The Project involves the installation of 20 wind turbines offshore of Kashima port, with each turbine possessing output capacity of 5,000 kW. The project aims to create the largest commercial offshore wind farm business in both Asia and Japan with the maximum output of approximately 100,000 kW (approximately 100 MW) and a projected annual power generation of approximately 245 million kWh. The wind farm planning and construction will be carried out by Wind Power Energy K.K., a special purpose company jointly invested by ORIX, Wind Power Group, and SB Energy. This is the first time ORIX has taken part in an offshore wind farm project.
The Wind Power Group, SB Energy, and ORIX will aim for further expansion and wider usage of renewable energies through the development and operation of renewable energy power plants, including wind farms.
|Location||Offshore of Kashima Port, Kamisu City, Ibaraki Prefecture|
|Power generation capacity||100,000 kW (5,000 kW x 20 turbines)|
|Projected annual power generation
(First year of operation)
|245 million kWh (planned)
Equivalent to the annual power consumption of approximately 60,800 ordinary households*
* Calculated at 3,600 kWh per household
|Official name||Wind Power Energy K.K.|
|Location||3-226 Minamihama, Kamisu City|
|Representative||President & CEO Mamoru Komatsuzaki|
|Date of establishment||March 2011|
|Shareholders||Wind Power Group K.K.: 33.4％
SB Energy Corporation: 33.3％
ORIX Corporation: 33.3％
● Names of companies, products, and services and such that appear in this press release are trademarks or registered trademarks of their respective companies
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."
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