Monday, May 19, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Orix in talks to buy renewable developers for $1 billion or more

Simon Osuji by Simon Osuji
January 17, 2024
in Energy
0
Orix in talks to buy renewable developers for $1 billion or more
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


Orix Corp. is in discussions to buy renewable energy developers in the US and Europe, as the Japanese financial conglomerate seeks to meet growing demand for cleaner power from multinational clients like Amazon.com Inc.

Individual deals could top $1 billion, although Orix is proceeding cautiously, Hidetake Takahashi, head of energy and eco services at the firm, said in an interview.

“Our strategy is to build the capacity to supply renewable energy globally,” he said. “We don’t want to regret after paying too much, though we want to acquire them soon.”

Orix, whose operations span banking, insurance, real estate and private equity has pushed into renewable energy in recent years, an area where it sees significant growth potential. It agreed to buy an 80% stake in Spain’s Elawan Energy for about 100 billion yen ($684 million) in 2020, giving it a platform to expand the business globally. The Japanese company later acquired the rest of Elawan.

The conglomerate’s environment and energy segment, which includes renewables, could almost double its assets to as much as 1.5 trillion yen given the right opportunities, Takahashi said. Orix had renewable energy capacity of 4.3 gigawatts as of September, including projects in which it has partial stakes, and is aiming to increase that to 10 gigawatts by 2030, he said.

In the US, where Orix’s renewable energy business is underweight, Takahashi said he’s considering opportunities to buy a company like Elawan.

A growing number of corporate clients in Japan and overseas are moving to secure renewable energy supply, as they aim to meet zero carbon emission targets, he said. Amazon.com Inc.’s energy unit recently expanded its power purchase agreement with Elawan, according to Orix.

“It would not be enough that we can meet requests by Amazon in Spain and Japan but not in the US, China or India, for instance,” he said.

Orix and Elawan are building wind and solar power projects on their own in Europe and the US, even as the company is in talks with potential acquisition targets in these regions, Takahashi said.

Still, the company is conscious of efficient use of its balance sheet, and in the future, it could set up a fund so that outside investors can own a portfolio of its renewable energy assets, he said.

Recommended for you

Cfd

‘A lot of scepticism’ from wind developers on CfD plans



Source link

Related posts

Agogo FPSO arrives Angola, to boost nation’s output by 170,000 bpd

Agogo FPSO arrives Angola, to boost nation’s output by 170,000 bpd

May 19, 2025
How Nigeria can transform its public transport with adoption of electric vehicles

How Nigeria can transform its public transport with adoption of electric vehicles

May 19, 2025
Previous Post

[REBROADCAST] Dynamic Discourse: Sen. Bobby Champion, Realtor Shawna Frazier & Kenya McKnight-Ahad

Next Post

Georgia Buys Anti-Aircraft Missiles From Poland

Next Post
Georgia Buys Anti-Aircraft Missiles From Poland

Georgia Buys Anti-Aircraft Missiles From Poland

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

CBH celebrates the success of UGFS North Africa in the first closing of the “New Era” fund

CBH celebrates the success of UGFS North Africa in the first closing of the “New Era” fund

4 weeks ago
Gary Gensler compares Bitcoin’s latest all-time high to a ‘roller coaster ride’

Gary Gensler compares Bitcoin’s latest all-time high to a ‘roller coaster ride’

1 year ago
Storytelling study provides a window into the inner workings, ongoing limitations of generative AI tools like ChatGPT

Storytelling study provides a window into the inner workings, ongoing limitations of generative AI tools like ChatGPT

7 months ago
Ripple XRP Outperforms Bitcoin, Solana: New ATH Soon?

Ripple XRP Outperforms Bitcoin, Solana: New ATH Soon?

5 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.