01/26/2023 | Press release | Distributed by Public on 01/25/2023 22:04
TOKYO, Japan - January 26, 2023 - ORIX Corporation ("ORIX") and the Mitsubishi Logistics Group's Fuji Logistics Co., Ltd. ("Fuji Logistics") announced today that they have introduced a power purchase agreement (PPA) model-a model in which ORIX installs and generates electricity from a solar power generation system to supply to Fuji Logistics-at Fuji Logistics' Mie Logistics Center Building A (Yokkaichi, Mie) and have begun operations in January 2023.
The PPA model is a business model in which a third party installs a solar power generation system on the land or roof of a property and supplies the generated electricity to it. ORIX has installed and operates a solar power generation system with a capacity of 801.00 kW on the roof of Mie Logistics Center Building A to supply CO2-free electricity to Fuji Logistics during the daytime, and also supplies electricity at night and during bad weather conditions as a power producer and supplier. Since Mie Logistics Center Building A is an ambient temperature-compatible facility that uses comparatively little electricity for the size of its roof, it also contributes to energy creation as approximately half of the electricity generated can be sold as excess electricity.
Through this project, Fuji Logistics will reduce approximately 70% of CO2 emissions from the electricity used in Mie Logistics Center Building A. In addition, the unit price of electricity purchased under this PPA model is expected to be approximately 45% lower than the unit price of electricity Fuji Logistics previously used.
Fuji Logistics will continue to implement measures to achieve the Mitsubishi Logistics Group's targets for reducing CO2 emissions*1, including the use of solar power generation to supply electricity and the use of LEDs for lighting in its warehouses to reduce power consumption.
ORIX actively promotes its renewable power generation business-which includes solar power, biomass, geothermal power and wind power-both in Japan and overseas. In Japan, ORIX owns and operates a solar power generation business with a total capacity of approximately 930 MW, with approximately 100 land-based and 500 rooftop systems*2.
The two companies will continue to contribute to the realization of a sustainable society.
*1 50% reduction of CO2 emissions from logistics facilities and real estate facilities by FY2030 (compared to the FY2013 level)
*2 As of the end of September 2022
|Facility name||Fuji Logistics Co., Ltd. Mie Logistics Center Building A|
|Location||1-27 Fujicho, Yokkaichi, Mie|
|Total floor area||Approx. 16,351 m2|
|Power generation capacity||801.00 kW|
|Number of panels||1,800|
■Fuji Logistics Co., Ltd. Mie Logistics Center Building A
Investor Relations and Sustainability Department
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 28 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of September 30, 2022)
Caution Concerning Forward Looking Statements:
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 that 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 "1. Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2021 - March 31, 2022" furnished on Form 6-K.