Orix invests 80% stake in Elawan Energy

ORIX Corporation has entered into an agreement to invest in Elawan Energy S.L., a global renewable energy company headquartered in Madrid, Spain focused on the development and ownership of wind and solar PV power plants.

Through its wholly-owned subsidiary ORIX Corporation Europe N.V., ORIX will acquire an 80% stake in Elawan. The founders of Elawan, Acek Renewables and CEO Dionisio Fernandez will continue to retain a 20% stake in the business. The transaction is expected to close in the second quarter of 2021, subject to receipt of regulatory approvals and satisfaction of customary closing conditions.

Elawan has delivered wind and solar PV projects with over 2,900 megawatts of projects developed globally since its incorporation in 2007. Elawan is active in 14 countries globally, with its core activities in Europe together with North and South America and has 714 megawatts of operational projects, 461 megawatts under construction and a development pipeline of over 10 gigawatts.