ORIX Eco Services and ORIX Renewable Energy Management to Begin Domestic Sales and Reuse of Used Solar Panels

TOKYO, Japan – April 17, 2024 – ORIX Eco Services Corporation (“ORIX Eco Services”) and ORIX Renewable Energy Management Corporation (“OREM”) announced today that they will begin domestic sales and reuse of used solar panels.

The introduction of the Feed-in Tariff Scheme for purchasing renewable energy at fixed prices (FIT Scheme) in 2012 accelerated the spread of solar power generation. As the life span of solar panels is generally 25 to 30 years, a large amount of used solar panels are expected to be disposed of in the latter half of the 2030s. Meanwhile, in Japan, due to a lack of information on reuse needs and a lack of established commercial distribution channels for reuse, used solar panels are not reused domestically, but are mainly sold overseas or going to waste.

ORIX Eco Services will begin domestic sales of used solar panels of various makes and models purchased from solar power generation companies and others to power generation and operation and maintenance (O&M) companies. By offering an extensive lineup of solar panels, ORIX Eco Services will promptly address the needs of customers and promote the reuse of solar panels in Japan. Used solar panels will be sold after inspecting them for defects and performance to confirm that there are no issues with power generation, and nonreusable solar panels will be recycled into materials or disposed of properly^*1.

In addition, OREM will begin reuse of used solar panels at solar power plants where OREM is in charge of the O&M work. OREM has been contracted to provide O&M services for approximately 190 solar power plants in Japan, totaling approximately 700 MW^*2, and has replaced approximately 3,000 solar panels, equivalent to 700 kW, that were damaged due to natural disasters or other reasons over the past five years. By acquiring approximately 170 used solar panels from ORIX Eco Services and utilizing the used solar panels when replacing panels at solar power plants under contract for O&M, OREM will reduce procurement costs and contribute to the early recovery of power generation.

ORIX Eco Services and OREM will continue to reduce environmental impact by promoting resource recycling.

*1 ORIX Eco Services to launch waste processing service for solar panels | ORIX Group (March 10, 2020)
*2 As of March 2024

Contact Information:
Investor Relations and Sustainability Department
ORIX Corporation
Tel: +81-3-3435-3121

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.” combining 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.