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Orix acquires 33.3% stake in Japanese offshore wind farm

CTBR Staff Writer Published 29 May 2015

Japanese financial services firm Orix has acquired a 33.3% stake in a 100MW offshore wind project in Ibaraki prefecture through an equity investment.

It is the first investment in offshore wind for Orix.

Orix joined existing partners in the project, Wind Power Group and SB Energy. Wind Power Energy is the special purpose firm that is responsible for the planning and construction of the wind farm.

Planned to be built offshore of Kashima Port in Kamisu City, the wind farm will feature 20 5MW turbines.

After completion, the wind farm is expected to generate about 245 million kWh of energy per year to provide power to about 60,800 homes.

The Wind Power Group, SB Energy, and Orix plan to develop more renewable energy facilities, including wind farms.

Earlier this year, the Government of Japan identified four more locations for the construction of wind energy projects, in a move to increase its wind energy capacity by 1.45GW.

SB Energy agreed to help the country's environment ministry for the study of feasibility of a 30MW onshore project in Tottori prefecture.