Elawan Energy to become wholly owned subsidiary of ORIX Corporation

ORIX Corporation (“ORIX”) today announces that it has entered into an agreement to acquire a further 20% interest in Elawan Energy S.L. (“Elawan”), following which Elawan will be wholly owned by ORIX Corporation. Since ORIX’s initial investment in July 2021, Elawan has played a central role in expanding ORIX’s footprint in renewables internationally. Following completion of the transaction, expected in early 2023 subject to the receipt of regulatory approval, Elawan will continue to be led by Founder and CEO Mr. Dionisio Fernandez supported by an experienced management team many of whom have worked together for over a decade.

Headquartered in Spain, Elawan is active in 14 countries globally, with its core activities in Europe, North and South America and today has over 1,290 megawatts (gross) of operational and approximately 7.3 gigawatts (gross) of projects under construction projects or in development. Elawan operates across the entire value chain of the renewable energy sector from development through to financing, construction, and operation.

“We are pleased to continue our investment in renewable energy globally with Elawan becoming a wholly owned subsidiary of ORIX. Elawan will support ORIX’s aim of contributing to the economic development and sustainable growth of global society through the promotion of renewable energy,” said Hidetake Takahashi, Managing Executive Officer and Head of Energy and Eco-Services Business Headquarters.

“We look forward to continuing to work closely with ORIX to unlock the full potential of Elawan as we continue our expansion globally and across technologies to offer integrated solutions to enable the decarbonization of energy systems globally,” said Dionisio Fernandez, CEO of Elawan. “ORIX has supported Elawan since 2021 in executing its ambitious growth and investment program, I believe ORIX shared vision and expertise in renewable energy will continue to enhance Elawan’s business into the future.”

ORIX is actively promoting its renewable businesses globally with a total capacity of approximately 3.6 gigawatts (net), which includes solar, wind, geothermal, biomass, biogas assets and hydro power. ORIX sees the expansion of its renewable energy business overseas as one of its key management strategies. ORIX has a global portfolio of investments in renewable energy through a range of investments including Greenko, a leading renewable energy company based in India, Ormat, an international geothermal energy company, Elawan and ORIX’s domestic energy business in Japan encompassing solar, energy storage, biogas, and wind.

By 2030, ORIX aims to expand to ~10 gigawatts of renewable energy projects worldwide. ORIX continues to identify and pursue opportunities to expand its activities in renewable energy through organic initiatives together with its subsidiaries and investees and inorganically with an active pipeline of exciting investment opportunities.

 

Overview of Elawan Energy

• Name: Elawan Energy S.L.
• Head office: Madrid, Spain
• Representative: Dionisio Fernández Auray (Founder and CEO)
• Established: 2007
• Description of business: Development and operation of solar, wind and mini hydro power generation
• Revenue (FY21): €105 million (c. 13.7 billion yen)
• Total Asset (FY21): €1,134 million (c. 147.4 billion yen)
• Shareholders (after completion of the transaction): ORIX Corporation
• Website: http://www.elawan.com/]

 

Contact Information:
Communications Department

ELAWAN Energy

communication@elawan.com

 

About Elawan:

Elawan is a global player in the renewable energy industry, offering integrated solutions across the entire clean energy lifecycle, from the promotion, development and construction renewable plants including solar, wind, geothermal and mini hydro power. Elawan is active in 14 countries worldwide and employs approximately 130 people. Elawan is part of the ORIX Group. For more details, please visit Elawan’s website: www.elawan.com.

About ORIX:

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 ORIX’s website: https://www.orix.co.jp/grp/en/

(As of September 30, 2022)