Latest news with #HiroakiKitaura
CNN
19 hours ago
- Business
- CNN
Japan power firm plans to build first new nuclear reactor since Fukushima
Kansai Electric Power will begin surveys for the construction of a new nuclear power reactor at its Mihama power station in Fukui prefecture, western Japan, to replace the existing facility, the company said on Tuesday. The decision marks Japan's first concrete step towards building a new nuclear reactor since the Great East Japan Earthquake in 2011 triggered a meltdown at Tokyo Electric Power's Fukushima plant, leading it to be shut down. Japan remains heavily dependent on fossil fuel imports, and the government wants nuclear power to contribute more to the country's energy security. Kansai Electric is currently Japan's biggest nuclear operator based on the number of reactors online. The surveys would focus on topography, geology and other studies and would include communications with local residents, the company said. 'Given overall cost performance, plant operation, and compliance with new regulations, we consider the SRZ-1200 advanced light water reactor the most realistic option,' Hiroaki Kitaura, a chief manager of Kansai's nuclear power division, told a briefing. Mitsubishi Heavy Industries is working with four utilities, including Kansai Electric and Hokkaido Electric Power on the basic design of the reactor type. Kansai Electric provided no construction cost estimate, but Kitaura said funds will be raised through bonds, loans, and other means as appropriate, adding that no equity issuance was currently being planned. The company had been analyzing a successor to the Mihama No.1 reactor since November 2010, but suspended the study after the 2011 disaster. In 2015, it decided to decommission the No.1 and No.2 reactors at Mihama. 'With a significant loss of nuclear power supply expected, it is necessary to rebuild with next-generation reactors, based on the premise of ensuring safety and gaining local understanding, to secure decarbonised power sources,' Japan's Economy, Trade and Industry Minister Yoji Muto said on Tuesday. Japan currently operates over a dozen reactors, with a combined capacity of around 12 gigawatts. Many are undergoing relicencing to meet stricter safety standards implemented after the Fukushima disaster. Before 2011, Japan operated 54 reactors.
CNN
19 hours ago
- Business
- CNN
Japan power firm plans to build first new nuclear reactor since Fukushima
Kansai Electric Power will begin surveys for the construction of a new nuclear power reactor at its Mihama power station in Fukui prefecture, western Japan, to replace the existing facility, the company said on Tuesday. The decision marks Japan's first concrete step towards building a new nuclear reactor since the Great East Japan Earthquake in 2011 triggered a meltdown at Tokyo Electric Power's Fukushima plant, leading it to be shut down. Japan remains heavily dependent on fossil fuel imports, and the government wants nuclear power to contribute more to the country's energy security. Kansai Electric is currently Japan's biggest nuclear operator based on the number of reactors online. The surveys would focus on topography, geology and other studies and would include communications with local residents, the company said. 'Given overall cost performance, plant operation, and compliance with new regulations, we consider the SRZ-1200 advanced light water reactor the most realistic option,' Hiroaki Kitaura, a chief manager of Kansai's nuclear power division, told a briefing. Mitsubishi Heavy Industries is working with four utilities, including Kansai Electric and Hokkaido Electric Power on the basic design of the reactor type. Kansai Electric provided no construction cost estimate, but Kitaura said funds will be raised through bonds, loans, and other means as appropriate, adding that no equity issuance was currently being planned. The company had been analyzing a successor to the Mihama No.1 reactor since November 2010, but suspended the study after the 2011 disaster. In 2015, it decided to decommission the No.1 and No.2 reactors at Mihama. 'With a significant loss of nuclear power supply expected, it is necessary to rebuild with next-generation reactors, based on the premise of ensuring safety and gaining local understanding, to secure decarbonised power sources,' Japan's Economy, Trade and Industry Minister Yoji Muto said on Tuesday. Japan currently operates over a dozen reactors, with a combined capacity of around 12 gigawatts. Many are undergoing relicencing to meet stricter safety standards implemented after the Fukushima disaster. Before 2011, Japan operated 54 reactors.
Reuters
a day ago
- Business
- Reuters
Kansai Electric to start surveys for new nuclear power reactor in Mihama
TOKYO, July 22 (Reuters) - Kansai Electric Power (9503.T), opens new tab will begin surveys for the construction of a new nuclear power reactor at its Mihama power station in Fukui prefecture, western Japan, to replace the existing facility, the company said on Tuesday. The decision marks Japan's first concrete step towards building a new nuclear reactor since the Great East Japan Earthquake in 2011 triggered a meltdown at Tokyo Electric Power's <9501.T> Fukushima plant, leading it to be shut down. Japan remains heavily dependent on fossil fuel imports, and the government wants nuclear power to contribute more to the country's energy security. Kansai Electric is currently Japan's biggest nuclear operator based on the number of reactors online. The surveys would focus on topography, geology and other studies and would include communications with local residents, the company said. "Given overall cost performance, plant operation, and compliance with new regulations, we consider the SRZ-1200 advanced light water reactor the most realistic option," Hiroaki Kitaura, a chief manager of Kansai's nuclear power division, told a briefing. Mitsubishi Heavy Industries (7011.T), opens new tab is working with four utilities, including Kansai Electric and Hokkaido Electric Power (9509.T), opens new tab, on the basic design of the reactor type. Kansai Electric provided no construction cost estimate, but Kitaura said funds will be raised through bonds, loans, and other means as appropriate, adding that no equity issuance was currently being planned. The company had been analysing a successor to the Mihama No.1 reactor since November 2010, but suspended the study after the 2011 disaster. In 2015, it decided to decommission the No.1 and No.2 reactors at Mihama. "With a significant loss of nuclear power supply expected, it is necessary to rebuild with next-generation reactors, based on the premise of ensuring safety and gaining local understanding, to secure decarbonised power sources," Japan's Economy, Trade and Industry Minister Yoji Muto said on Tuesday. Japan currently operates over a dozen reactors, with a combined capacity of around 12 gigawatts. Many are undergoing relicencing to meet stricter safety standards implemented after the Fukushima disaster. Before 2011, Japan operated 54 reactors.
CNA
a day ago
- Business
- CNA
Kansai Electric to start surveys for new nuclear power reactor in Mihama
TOKYO :Kansai Electric Power will begin surveys for the construction of a new nuclear power reactor at its Mihama power station in Fukui prefecture, western Japan, to replace the existing facility, the company said on Tuesday. The decision marks Japan's first concrete step towards building a new nuclear reactor since the Great East Japan Earthquake in 2011 triggered a meltdown at Tokyo Electric Power's <9501.T> Fukushima plant, leading it to be shut down. Japan remains heavily dependent on fossil fuel imports, and the government wants nuclear power to contribute more to the country's energy security. Kansai Electric is currently Japan's biggest nuclear operator based on the number of reactors online. The surveys would focus on topography, geology and other studies and would include communications with local residents, the company said. "Given overall cost performance, plant operation, and compliance with new regulations, we consider the SRZ-1200 advanced light water reactor the most realistic option," Hiroaki Kitaura, a chief manager of Kansai's nuclear power division, told a briefing. Mitsubishi Heavy Industries is working with four utilities, including Kansai Electric and Hokkaido Electric Power , on the basic design of the reactor type. Kansai Electric provided no construction cost estimate, but Kitaura said funds will be raised through bonds, loans, and other means as appropriate, adding that no equity issuance was currently being planned. The company had been analysing a successor to the Mihama No.1 reactor since November 2010, but suspended the study after the 2011 disaster. In 2015, it decided to decommission the No.1 and No.2 reactors at Mihama. "With a significant loss of nuclear power supply expected, it is necessary to rebuild with next-generation reactors, based on the premise of ensuring safety and gaining local understanding, to secure decarbonised power sources," Japan's Economy, Trade and Industry Minister Yoji Muto said on Tuesday. Japan currently operates over a dozen reactors, with a combined capacity of around 12 gigawatts. Many are undergoing relicencing to meet stricter safety standards implemented after the Fukushima disaster. Before 2011, Japan operated 54 reactors.
Straits Times
a day ago
- Business
- Straits Times
Japan looks at building first atomic reactor since Fukushima
Find out what's new on ST website and app. TOKYO - Kansai Electric Power Co. is looking into a plan to build Japan's first nuclear reactor since the country soured on the technology following the 2011 Fukushima disaster, the regional utility confirmed. The company will resume surveys for a potential new reactor at the Mihama Nuclear Power Plant in Fukui prefecture west of Tokyo, it said in a statement on July 22 . The move marks Japan's most significant step toward reviving atomic power since the Fukushima Dai-Ichi meltdowns prompted the closure of the nation's reactors. The government is backing nuclear energy to meet an expected rise in electricity demand from the artificial intelligence (AI) boom over the next decade, and public opinion has also become more favourable . 'Nuclear power should continue to be utilised into the future,' Kansai Electric President Nozomu Mori told reporters in Osaka. 'In a country like Japan, which lacks natural resources, the key question is how we can continue to deliver energy, particularly as we look to foster the growth of new industries.' Kansai Electric's plans, which were first reported in local media late on July 18 , sparked a surge in utility shares on July 22, as local markets reopened after a public holiday. The company itself rose as much as 5 per cent in Tokyo. Tokyo Electric Power Co. and Hokkaido Electric Power Co. both climbed as much as 6.7 per cent. Mitsubishi Heavy Industries, a nuclear parts manufacturer, rallied as much as 6.2 per cent. While there is a variety of reactor design options, Mitsubishi Heavy's new model, the SRZ-1200, is the most 'realistic,' said Mr Hiroaki Kitaura, the company's chief manager for plant and maintenance engineering, during a press conference in Tokyo on July 22 . The company will conduct surveys at the Mihama power plant to possibly replace the number 1 unit, which is currently being decommissioned, he said. The study is expected to take 'several years,' Mr Kitaura explained, adding that it's undecided when the study will begin. The revival of nuclear power in Japan after Fukushima has been a long process. Fewer than half of the country's 33 operable reactors have gotten back online due to lengthy regulatory checks and upgrades, as well as local opposition. Outside of Japan, a renaissance in nuclear power has been underway for several years, as governments and companies, particularly in the tech sector, look for ways to meet clean energy targets. Microsoft is investing in the shuttered Three Mile Island nuclear plant in the US, while Amazon is backing a nuclear technology company. Japanese Trade Minister Yoji Muto declined to comment specifically on Kansai Electric's plans on July 22 . He said the government believes Japan will need to secure more carbon-free electricity, and will take necessary steps to encourage investment and strengthen the nuclear supply chain. BLOOMBERG
