Orix launches renewables O&M services unit

Japanese financial services conglomerate Orix Corp (TYO:8591) said today it has set up a new company that will focus on the operation and maintenance (O&M) of renewable energy plants.

The new entity, called Orix Renewable Energy Management Corp, is based in Tokyo and will operate as a 100% subsidiary of the Japanese group. It will manage, operate and maintain renewable energy facilities and will also provide solutions that lower power generation losses, as well as remote monitoring and data analysis services.

To complement the new business service, Orix will also grow into renewable energy-based power generation, asset management and other fields. The company said it is actively expanding its operations related to renewable power plants, including solar, geothermal, wind and biomass technologies.

As of end-March 2018, Orix is taking care of the development and operation of 1,000 MW of power plants, including 837 MW of large-scale PV parks and 159 MW of rooftop solar systems.

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