Orix Corp., the finance and leasing company with renewable energy investments, plans to increase its backing of large solar projects in Japan regardless of grid access constraints that are threatening to slow the industry.
The Tokyo-based company is targeting 800 megawatts of "megasolar" projects in operation by March 2018, said Yuichi Nishigori, head of Orix's energy and eco services business. Orix currently has more than 430 megawatts of large solar projects either operating or under development, he said.
Orix, which also sells solar panels, may buy projects from developers that are relinquishing approvals granted to them under the government's feed-in tariff program, Nishigori said. Some non-Japanese developers are asking Orix to jointly invest or buy their projects after having trouble pushing them through on their own, he said.