ORIX Signs One of Japan's Largest Onsite PPAs with Kansai Airports
Nov 15, 2023
TOKYO, Japan – November 15, 2023 – ORIX Corporation (“ORIX”) announced today that it has signed a power purchase agreement (PPA) with Kansai Airports. Under this agreement, solar power generation systems will be installed at Kansai International Airport and Osaka International Airport. With a total capacity of approximately 23.4 MW, this will be one of the largest onsite PPAs in Japan*1. ORIX will begin supplying power to the airports in the spring of 2025.
In this business, an SPC established by ORIX will be the power generator, and will install and operate solar power generation systems of approximately 22.8MW at Kansai International Airport and approximately 0.6 MW at Osaka International Airport, for a total of approximately 23.4 MW. With the generated power being consumed onsite at each airport, the Kansai Airports Group will be able to cover approximately 20% of its annual power consumption and reduce its annual CO2 emissions by approximately 12,300 t-CO2.
ORIX operates approximately 950 MW of renewable energy power generation businesses in Japan, and owns/operates approximately 100 land-based and 300 rooftop solar power generation systems*2. Currently, the Company is promoting its corporate power purchase agreement (PPA) initiatives in which it borrows the land or roof of an electricity consumer, installs power generation systems there, and supplies the electricity generated to the consumer.
ORIX will promote initiatives for making renewable energy sources the main sources of power and realizing carbon neutrality by 2050, thereby contributing to the realization of a sustainable society.
*1 According to in-house research
*2 As of September 30, 2023
|Target facility||Kansai International Airport||Osaka International Airport|
|Location||Senshukukokita 1, Izumisano, Osaka||3-555 Hotarugaike Nishimachi, Toyonaka, Osaka|
|Installation location||North side land of 2nd phase island
Roof of international cargo building
|Roof of terminal building|
|Solar panel capacity||22,862 kW (total of 8 locations)||557 kW|
|Number of solar panels||39,740||960|
|Estimated amount of electricity
sold per year (first year)
|27,754 MWh||628 MWh|
|Estimated amount of CO2
reduction per year
|12,000 t-CO2||270 t-CO2|
Investor Relations and Sustainability Department
About ORIX Group:
ORIX Group (ORIX Corporation TSE: 8591; NYSE: IX) was established in 1964 and has grown from its roots in leasing in Japan to become a global, diverse, and unique corporate group. Today, it is active around the world in financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial/ICT equipment, ships and aircraft. Since expanding outside of Japan in 1971, ORIX Group has grown its business globally and now operates in around 30 countries and regions across the world with approximately 35,000 people. ORIX Group unites globally around its Purpose: “Finding Paths. Making Impact.” bringing diverse expertise and innovative thinking to help our world develop in a sustainable way.
For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of November 1, 2023)
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, 2022 – March 31, 2023” furnished on Form 6-K.
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