Orix Corporation (Japan) has announced hat it has entered into an agreement to invest in Elawan Energy, a 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, 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 is active in 14 countries globally, with its core activities in Europe together with North and South America and today has 714MW of operational projects, 461MW under construction and a development pipeline of over 10GW.
