Orix Unit, Kyudenko, JFE Engineering to Develop 50MW of Solar

Kyuko-Lease Inc., a unit of Orix Corp. (8591), is seeking to develop about 50 megawatts of solar projects in Japan by March 2016 together with Kyudenko Corp. (1959) and JFE Engineering Corp.

The three companies will start with a 1.7 megawatt solar station in the southwestern prefecture of Kumamoto, they said in a statement today. The plant is scheduled to start running in September.

The partners will consider developing geothermal and wind power projects, according to the statement. Orix has a 90 percent stake in Kyuko-Lease. The remainder is held by Kyudenko.

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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