Orix on Course to Develop 900MW of Solar Projects in Japan

Orix Corp., a Tokyo-based finance and leasing company that’s also a clean-energy investor, said it’s on course to develop and own 900 megawatts of solar capacity in two years.

The Tokyo-based company had 350 megawatts of solar in operation as of the end of December, Katsunori Fujii, a spokesman for Orix, said by phone Wednesday. Orix expects another 550 megawatts of solar projects -- rooftop and large-scale -- to have started operating by the end of March 2018, Fujii said, adding that the company has secured 500 megawatts for the target.

Orix plans to invest more than 100 billion yen ($872 million) for 550 megawatts of new solar projects, the Nikkei newspaper reported on Wednesday without saying where it got the information. Orix doesn’t comment on investment cost, Fujii said.

Orix also invests in geothermal, biomass and wind power.

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