Power Plant with Maximum Output of 8.2 MW on the Former Makurazaki Airport Site
TOKYO, Japan - September 1, 2014 - ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, and Kyudenko Corporation (Kyudenko) today announced the commencement of operations at a large-scale solar power generation (mega-solar) plant, Makurazaki Former Airport Site No.1 and No.2 Power Plants, with maximum output of 8.2 MW (8,218 kW) on the former site of Makurazaki Airport (Makurazaki City, Kagoshima Prefecture). The project is the first example in Japan of a mega-solar power plant business utilizing a former airport site.
Makurazaki Airport opened in January 1991 as Japan's first commuter airport. In light of mounting annual budget deficits for the management and operation of the airport, as well as future fiscal policy and the financial burden faced by residents, Makurazaki City shuttered the airport at the end of fiscal 2012. ORIX and Kyudenko have used the former airport site to develop a mega-solar power plant.
Furthermore, through donations made to Makurazaki City and the tertiary sector as community contributions, an area for touring and learning about this power plant that has made use of an airport terminal will also be established on the site, along with an astronomical observatory.
Makurazaki Former Airport Site No.1 and No.2 Power Plants
Going forward, ORIX and Kyudenko will continue to actively develop renewable energy and other energy-related businesses, as well as aim to provide new added value to customers.
■ Makurazaki Former Airport Site No.1 and No.2 Power Plants Overview
275 Akebono Town, Makurazaki City, Kagoshima Prefecture
Power generation capacity
Approx. 129,000 m2
Number of installed panels
Projected annual power generation
(Based on sales in first fiscal year)
Equivalent to the annual power consumption of approximately 2,550 ordinary households*
* Calculation based on consumption of 3,600 kWh a year per household
Source: Electricity Statistics Information, The Federation of Electric Power Companies of Japan
■ Overview of Key Local Social Contribution Measures
1. Installation of areas for solar power plant tours and education
A section of the airport terminal building will be remodeled for the installation of a seminar space that will include exhibits on how solar power plants work and environmental education.
2. Installation of an astronomical observatory
An astronomical observatory will be built on the former airport grounds, offering a place for local residents to congregate.
3. Use of airport property management company
Property management for part of the solar power plant will be entrusted to Nansatsu Airport Co., Ltd. (sector 3/airport property management company), which will remain in business following closure of the airport.
Contact Information: ORIX Corporation
Corporate Planning Department
About ORIX: ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses. Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 35 countries and regions across the world. ORIX celebrates its 50th anniversary in 2014 and moving forward it aims to contribute to society while continuing to capture new business opportunities and sustain growth by promoting acceleration of its corporate strategy "Finance + Services." For more details, please visit our website: http://www.orix.co.jp/grp/en/
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 to 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 "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2013 - March 31, 2014."