ORIX, a leading financial institution in Japan, is jumping on the renewable energy bandwagon with 77 solar power projects – marking the anniversary of Japan’s solar feed-in-tariff (FiT) scheme.
The introduction last July of Japan's generous FiT has seen a surge in solar installations, with the country's PV market now predicted to be as big if not bigger than China's this year.
ORIX has announced it is developing 28 plants with 143.2MW combined output, and simultaneously installing 49 rooftop systems with 27.2MW combined maximum output – totalling 77 projects with 170MW output, equivalent to more than 50,000 homes.
Ultimately ORIX said it aspires to reach 300MW total capacity output in solar power plants, and 100MW capacity in rooftop projects.
ORIX leases land and rents rooftops from companies, local governments and other landowners to facilitate solar projects.
The prices and rates for Japan’s FiTs, as used by ORIX, are fixed by the Ministry of Economy Trade and Industry (METI), and energy providers must have accreditation from METI before benefiting from FiTs.
ORIX is an electric power trading business, electricity supply businesses, and a storage battery rental service business.