Orix agreed to buy the Spanish company Elawan Energy in the first deal of the Japanese investment group Orix acquisition of a majority stake in a renewable energy company abroad, as it will buy an 80% stake in the management of Elawan and the Spanish industry company Acek, and another payment will be added to the deal later to reach Its total value is about 100 billion yen ($965 million).
The acquisition will expand Orix’s global business in renewable energy, thus expanding the company’s investment portfolio that ranges from financial leasing to banking and real estate, as Acek, which also owns an auto parts maker called Gestamp Automocion, is selling shares of its assets. in renewable energy.
Founded in 2007, Elawan develops and operates solar and wind energy projects in Europe and the Americas, with projects currently operating to produce 714 MW, in addition to projects under construction with a capacity of more than 460 MW and a production and development line of more than 10 GW.
Orix has strengthened its investments in renewable energy locally and abroad in the previous years, as in September, Orix agreed to buy a 20% stake in the Indian renewable energy development company Greenko Enregy, with a value of $980 million, making it the largest investment the group has made in this field externally. It is also looking forward to the arrival of its branches in the United States.