Solar Power Generation Project with a Combined Maximum Output of 2.7 MW at 30 Fishery Cooperative Facilities ―Rooftop Rental Solar Power Generation Project at Saga Prefecture Fishery Cooperative Federation Facilities―
TOKYO, Japan - March 31, 2014 - ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, announced today that it will conduct a solar power generation business with a maximum output of 2,741 kW (2.7 MW) using the rooftops of 30 locations owned by the Saga Prefecture Fishery Cooperative Federation (hereinafter, "Saga Fishery Cooperative"), including seaweed processing plants and collection facilities.
Saga Fishery Cooperative was established in 1997 through mergers of 18 fishery cooperatives in Ariake area, and is mainly involved in farming and selling the "Saga Seaweeds." Saga Fishery Cooperative agreed to participate in the project because the project is environmentally friendly as the power will be generated from renewable solar energy, and the coastal areas by the Ariake Sea receive abundant sunshine compared with other areas of Japan.
For this project, ORIX plans to install 10,964 solar panels at 30 facilities, both large and small, in coastal areas along the Ariake Sea. The project is expected to generate approximately 2,866,300 kWh annually (equivalent to the annual power consumption of 800 ordinary households*). Plans call for successively starting installation work from May 2014, and commencing operation of the solar power generation systems at all facilities in September 2014.
In its rooftop rental solar power generation business, ORIX rents the roofs of factories, warehouses and other facilities owned by customers and generates electricity from solar power generation systems installed on them. ORIX will achieve efficient power generation by taking full advantage of customer-owned facilities in addition to conducting large-scale solar power generation on idle land leased from local governments and companies.
For their part, in addition to being able to use their assets effectively, customers are able to improve the efficiency of internal air conditioning at their facilities due to the heat-shielding effect of the solar panels.
Looking ahead, ORIX will continue to provide additional new value as it actively expands renewable energy and other energy-related businesses.
* Calculated at 3,600 kWh a year per household. Source Electricity Statistics Information, The Federation of Electric Power Companies of Japan
■Examples of facilities planning to install solar panels
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/
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, 2012 - March 31, 2013."