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Orix to Invest in Solar Power Projects, Tokyo Shimbun Says

Orix Corp. (8591), a Japanese finance and leasing company, will invest 54 billion yen ($680 million) to develop solar power projects, the Tokyo Shimbun newspaper said, citing President Makoto Inoue.

The investment will be made during the next three years to develop plants and install panels on factory rooftops in Japan with a total capacity of 200 megawatts, the newspaper cited Inoue as saying.

The company may increase the investment to a total of 100 billion yen to build as much as 400 megawatts of capacity, Inoue told the newspaper.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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