Orix Corporation (Orix) has announced that it has agreed to acquire the remaining 20% of the shares of Elawan Energy (Elawan), a global renewable energy company headquartered in Madrid, Spain, of which 80% are already held by Orix.
The transaction is expected to close in the first quarter of 2023, subject to receipt of regulatory approval. Elawan will continue to be led by Founder and CEO Dionisio Fernandez. Elawan is active in 14 countries globally, with its core business in Europe and North and South America, and today has over 1,290MW of projects in operation and over approximately 7.3GW of projects under construction or in development.