IL&FS has announced that Japan-based financial services Group ORIX Corp has set up a joint venture for renewable energy projects in India. The partnership is also targeted to implement 2,000 mw of solar power generation. ORIX has invested 49 per cent of the equity of the wind platform of IL&FS aggregating to 1,004 mw, of which 775 mw is operational, and the balance is under construction.

ORIX is a major player in renewable energy business in Japan including solar, wind, biomass, power trading and retailing. ORIX is also one of the largest corporates in Japanese solar power generation market with a 1 GW multilocation portfolio. ORIX Group is committed to contribute in resolving environmental and energy issues through business operations that meet the needs of customers and society across both developed and developing nations.

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