Japanese finance and leasing company Orix advised of its plans to spend US$680 million (54 billion yen) on 200MWs of solar projects over the next three years. Bloomberg noted that Tamaki Shibata, a spokeswoman for Orix, confirmed that the company plans to invest US$377.25 million (30 billion yen) to build solar power stations with a total capacity of 100MW. The remaining US$301.8 million dollars (24 billion yen) will be used to lease rooftop space from factories and warehouses in order to install panels at a 100MW capacity.
Shibata further confirmed a report in the Tokyo Shimbun that Orix may increase its investment to a total of US$1.26 billion (100 million yen) for the development of as much as 400MW of capacity. “We will closely monitor panel and land prices,” she said. The company is constructing a 2MW plant in Kagawa prefecture, which is expected to begin operation in January.