ORIX Forms Partnership with Belgium Software Company That Leads Global Market and Will Begin Solar Power Plant Diagnostic Service

TOKYO, Japan - August 11, 2020 - ORIX Renewable Energy Management Corporation (“ORIX Renewable Energy Management”) announced today that it has formed a partnership with software company SITEMARK.NV (“SITEMARK”), which boasts the world’s largest market share for drone-based aerial photography and analysis services, and will begin a diagnostic service for solar power plants in Japan.

Of the large-scale solar power plants that the ORIX Group handles (111 locations, total installed capacity of 826 MW), ORIX Renewable Energy Management is currently in charge of operations, management, and maintenance at 86 plants (450 MW total), and it is making efforts to accumulate know-how.
ORIX Renewable Energy Management introduced SITEMARK’s software* in mid-2018 and is using it for drone-based aerial photography and analysis tasks for solar power plants. The digitization allows for operating conditions to be visualized, and through early detection and repair of defects, ORIX Renewable Energy Management has worked not only to make tasks more efficient, but also increase the profits from power generation. As a result, because the effects of the implementation have been sufficiently recognized, it will begin providing a solar power plant diagnostic service that utilizes the software not only to power generation operators around Japan, but also the companies handling maintenance and management for the power plants. Notably, this service can provide drone-based aerial photography and delivery of inspection results as well as power plant operation improvement proposals based on the company’s past operation results.

This service uses drones equipped with infrared thermography technology to take aerial photographs of solar panels, then automatically sorts solar panel defects by category using software that contains artificial intelligence (AI). Digitizing solar power plant maintenance and inspection tasks, which have conventionally been handled through human visual checks and other methods that require a lot of time, both saves labor and allows for accurate maintenance and inspection.

Going forward, the ORIX Group will continue to contribute to the widespread adoption of renewable energy through broad expansion of its power generation business that utilizes renewable energy as well as its asset management business.

* The software has provided service approximately 2,000 times (approx. 7,000 MW total) to 120 companies in 39 countries around the world.

■ Examples of the ORIX Group’s Improvements to Power Plants
At a power plant in Omuta City, Fukuoka Prefecture that is being operated, managed, and maintained by ORIX Renewable Energy Management, over 1,000 abnormal locations were detected via drone-based aerial photography and analysis in 2018 (cost: approx. one million yen). From among these, as a result of repairs (cost: approx. two million yen) anticipated to increase power generation profits by an amount that exceeds the repair costs, after adjusting the amount of solar radiation to be equivalent to the previous year, over seven million yen in annual power generation profits were attained. In addition, the number of abnormal locations detected in 2019 via drone-based aerial photography and analysis decreased to 219.

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 37 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of March 31, 2020)

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 that 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 “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2019– March 31, 2020.”