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ORIX participates in the development of large-scale offshore wind farm

Tokyo, Japan - Orix Corporation, an integrated financial services group, Wind Power Group K.K., a member of the Komatsuzaki Group, and SB Energy Corporation, announced that Orix has agreed to participate in the joint development and construction of Kashima Port Large-Scale Offshore Wind Farm which is to be built offshore of Kashima Port in Kamisu City, Ibaraki Prefecture. According to Orix, the equity investment by ORIX into the Project company was also completed.

The Project involves the installation of 20 wind turbines offshore of Kashima port, with each turbine possessing output capacity of 5 Megawatts (MW). The project aims to create the largest commercial offshore wind farm business in both Asia and Japan with a maximum capacity of approximately 100 MW and a projected annual power generation of approximately 245 million kWh. The wind farm planning and construction will be carried out by Wind Power Energy K.K., a special purpose company jointly invested by ORIX, Wind Power Group, and SB Energy. This is the first time ORIX has taken part in an offshore wind farm project.

The Wind Power Group, SB Energy, and ORIX will aim for further expansion and wider usage of renewable energies through the development and operation of renewable energy power plants, including wind farms.

Source: IWR Online, 28 May 2015