Business / Corporate

Orix plans to build as many as 15 geothermal plants in Japan

Bloomberg

Orix Corp. plans to build as many as 15 geothermal power stations in Japan over the next five years.

The Tokyo-based finance and leasing company, which has been developing solar and biomass projects, is conducting geological surveys in Hokkaido and Aomori Prefecture, spokeswoman Tamaki Shibata said Wednesday.

Orix plans to invest as much as ¥25 billion, the Nikkei newspaper reported, though Shibata said estimates at this stage are premature.

The company will focus on smaller plants of about 2 megawatts as they can be set up quickly, Shibata said. Environmental impact assessments for plants with 7.5 megawatts of capacity or more are often required, according to the Environment Ministry’s website.