Orix signs PPA for unsubsidized 2.2MW Solar Plant in Japan

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Japan-based denim company Kaihara Co Ltd has agreed to buy power from a 2.2 MW solar plant under development by Japanese financial services giant Orix, via a long-term power purchase agreement.

The solar facility will supply power to Kaihara’s Sanwa factory, located in Jinseki, in the Hiroshima prefecture, and will cover around 12% of its electricity demand.

Through procurement capability utilizing Orix’s economies of scale, the introduction of this large scale solar power generation system is expected to allow the electricity charge per unit procured through this PPA model to be reduced by approximately 25% at [the] Sanwa factory compared to the past rate,” Orix said in a statement.

IMAGE SOURCE: GOOGLE