ORIX Corporation (ORIX) has announced that it has agreed to acquire the additional 51% of shares in seven wind power generation subsidiaries which it jointly owns with IL&FS Wind Energy Limited (IWEL).
Going forward, ORIX and IL&FS intend to obtain all necessary approvals to turn these seven subsidiaries into ORIX’s wholly owned subsidiaries. ORIX has owned 49 percent of the shares of seven Special Purpose Vehicles (SPVs), with the aim of developing its wind power generation business in India. These seven SPVs operate wind power plants with a combined capacity of 873 MW in seven states mainly in the southern and western belt of India.