Latest news with #KEPCO
Japan Forward
2 days ago
- Business
- Japan Forward
New Nuclear Power Plant a Crucial Step to Energy Security
このページを 日本語 で読む Kansai Electric Power Co (KEPCO) has announced that it will resume on-site geological and other surveys at the Mihama Nuclear Power Station in Fukui Prefecture. This will set the stage for a feasibility study for an innovative light-water nuclear reactor. It would succeed units 1 and 2 of the Mihama facility, which are slated for decommissioning. This is the first instance of taking concrete steps to build new nuclear power plants in Japan since the 2011 Fukushima Daiichi nuclear power plant disaster. We welcome this as a crucial step to grow Japan's economy and ensure its energy security. KEPCO shut down the Mihama 1 and 2 reactors four years after the Fukushima disaster. That left only Unit 3 in operation. Looking back at its history, KEPCO had already started responding to the aging of units 1 and 2 in 2010. That was a year before the 2011 Great East Japan Earthquake and Fukushima accident. At that point, the company had initiated a feasibility study of building a new power reactor at the station. Therefore, this new survey essentially resumes previously launched activities that were suspended following the earthquake. Decommissioning work is underway at Unit 1 of the tsunami-damaged Fukushima Daiichi Nuclear Power Station. (©TEPCO) However, these activities are being resumed after a long hiatus. Moreover, since the launch of the Nuclear Regulation Authority, the environment for nuclear power has dramatically changed. KEPCO must take all possible steps to provide clear and detailed explanations to the local community and the general public. Japan once had 54 nuclear power plants. However, now there are only 33. Of those, only 14 have been restarted since the earthquake. As the international security environment becomes more uncertain, it is imperative that Japan maintain stable supplies of nuclear energy. However, we can hardly claim that the public understands the need for generating nuclear power. Thermal power generation carries increasing risks associated with procuring the required fossil fuels. Yet, currently, thermal power accounts for 70% of Japan's energy mix. Moreover, expanded application of artificial intelligence and the relaunch of the semiconductor industry will rapidly increase electricity demand. Rapidus' next-generation semiconductor factory IIM-1 in Chitose City, Hokkaido will require a steady power supply. July 18 (©Sankei by Takahiro Sakamoto) In February, the Ishiba Cabinet approved the Seventh Basic Energy Plan. It deleted the previous version's statement that "we will reduce our dependence on nuclear power as much as possible." Furthermore, it added a clear statement that concrete measures would be taken to replace nuclear power plants earmarked for decommissioning with next-generation innovative reactors. Thus, KEPCO's efforts to rebuild are in line with national policy. Hokkaido Electric Power's Tomari Unit 3 was the last new nuclear power plant built in Japan. It went online 16 years ago. That was just before the earthquake when the light turned red on the continuation of Japan's world-renowned nuclear technology. Since then, construction has been frozen. It generally takes decades to complete the construction of new nuclear power plants. Support from the national government will also be essential at key stages. Author: Editorial Board, The Sankei Shimbun このページを 日本語 で読む
Yomiuri Shimbun
23-07-2025
- Business
- Yomiuri Shimbun
KEPCO's Plan to Construct New Nuclear Reactor: A Step Forward from ‘Post-2011 Earthquake' Policy
After being frozen for many years following the 2011 Great East Japan Earthquake, movement has begun toward the construction of new nuclear reactors. The hope is that Kansai Electric Power Co. will steadily proceed with the plan while carefully gaining the understanding of the public. KEPCO has announced that it will resume a geological survey on the premises of its Mihama nuclear power plant in the town of Mihama, Fukui Prefecture, in preparation for the construction of a new nuclear reactor. The company started the survey in 2010, but it was suspended following the accident at Tokyo Electric Power Company Holdings, Inc.'s Fukushima No. 1 nuclear power plant in 2011. Since the earthquake, there has been strong caution about the use of nuclear power plants. The last nuclear reactor that was newly built in Japan was the No. 3 reactor at Hokkaido Electric Power Co.'s Tomari nuclear power plant, which went into operation in 2009. In recent years, household budgets have been suffering from rising electricity bills due to higher energy prices caused mainly by Russia's aggression against Ukraine and instability in the Middle East. The public has become more aware of energy security, and understanding of the need for nuclear power generation that is compatible with decarbonization has grown. KEPCO may have now clearly expressed its intention to build a new nuclear reactor in light of these changes. KEPCO envisions that the surveying will take around several years. After that, it plans to submit its construction plan to the Nuclear Regulation Authority. It could take about 20 years from the survey to the construction of a new reactor being completed, the company said. Concerns about the safety of nuclear power plants are deep-rooted. KEPCO should continue to make meticulous efforts to gain the understanding of local communities. The Mihama nuclear power plant has three reactors. KEPCO has decided to decommission the No. 1 and No. 2 reactors, and the No. 3 reactor is currently in operation. KEPCO said it will consider constructing an 'advanced light-water reactor,' a next-generation nuclear reactor that is said to be very safe and to generate power very efficiently. KEPCO must thoroughly explain the safety of the new technology. After the Great East Japan Earthquake, the government stated that 'dependency on nuclear power generation will be lowered to the extent possible.' However, former Prime Minister Fumio Kishida approved the construction of new nuclear reactors in 2022, changing that policy drastically. Behind this policy shift is the recognition that it is essential to promote the development of data centers for artificial intelligence, which use vast amounts of electricity, in order to strengthen international competitiveness amid the advancement of digitalization. The government has also attached importance to supporting the manufacturing industry through this inexpensive electric power source and reducing the burden on household budgets. In its Strategic Energy Plan, which was approved at a Cabinet meeting in February this year, the government has indicated its policy to raise the ratio of nuclear power in electric power sources from 8.5% in fiscal 2023 to about 20% in fiscal 2040. This is equivalent to the electricity produced by about 30 nuclear reactors. There are currently 33 nuclear reactors in Japan, 14 of which have resumed their operations. Although it is possible for a nuclear reactor to operate for more than 60 years under certain conditions, the stable supply of electricity will be threatened if new reactors are not built. Other electric power companies, such as Kyushu Electric Power Co., will also need to move forward with considering the construction of new reactors. (From The Yomiuri Shimbun, July 23, 2025)
Asahi Shimbun
22-07-2025
- Business
- Asahi Shimbun
Kansai Electric to build new nuclear plant in Mihama
Kansai Electric Power Co. will build a new nuclear power plant in Mihama, Fukui Prefecture, the company announced on July 22. The new plant will have a next-generation advanced light water reactor, an improved version of a conventional light water reactor, KEPCO President Nozomu Mori said at a news conference. The company said it has decided to embark on the first step: a geological survey of its existing Mihama nuclear power plant and the land nearby. KEPCO was expected to notify the governments of Fukui Prefecture and Mihama town, where the current plant is located, by the end of the day. This is the first concrete move by a major electricity utility to build a nuclear power plant since the 2011 triple meltdowns at the Tokyo Electric Power Co.'s Fukushima No. 1 nuclear power plant. Mass evacuations and the difficult clean-up led to a surge of anti-nuclear sentiment, but under Prime Minister Fumio Kishida the government shifted toward allowing the construction of new nuclear power plants on a conditional basis. In February this year the government revised its basic energy plan, deleting a line that vowed to 'reduce dependence on nuclear power as much as possible.' That phrase was added after the Fukushima accident. Moreover, utilities have now secured a range of government support measures for the construction of nuclear power plants. Mori said the company sees strategic value in this. 'In resource-poor Japan, it is important that nuclear power continue to play its role in the future from the perspective of S plus 3E,' Mori told reporters at the company's headquarters in Osaka. The term 'S plus 3E' refers to safety, energy security, economic efficiency and the environment. 'We have come to the conclusion that we need to resume our voluntary site survey,' he said. The Mihama plant was KEPCO's first nuclear power plant. Its No. 1 reactor began operation in 1970, feeding some of its output to the Osaka Expo that year. By 2010, the No. 1 reactor was aging. KEPCO began a survey looking at the viability of rebuilding it but the survey was suspended a year later in the wake of the Fukushima disaster. In 2015, the reactor's fate was sealed when the decision was taken to decommission it. At the time, KEPCO said that the geology and topography at the Mihama plant would be examined in a study that would take about a year to complete. However, the Fukushima accident led to the creation of the Nuclear Regulation Authority and new safety standards. The regulations have become stricter, so the content and duration of the survey will be examined 'on a zero basis,' a source said. Construction of a new nuclear power plant is estimated to take 15 to 20 years. It will cost more than 1 trillion yen ($6.8 billion) per unit, including preliminary environmental impact studies. When the operating period and subsequent decommissioning work are factored in, the time horizon on such a project is about 100 years. As for reactor type, Mori said it will be an advanced light water reactor. In September 2022, KEPCO teamed with Mitsubishi Heavy Industries Ltd. and three major electric power companies to jointly develop an advanced light water reactor called the SRZ-1200, with the aim of commercializing it in the mid-2030s. Based on lessons learned from the Fukushima accident, the reactor will be equipped with a device called a core catcher, which would contain and cool the fuel in the event of a meltdown. Meanwhile, the nuclear power sector is also watching the plans of Kyushu Electric Power Co., which owns the Genkai and Sendai nuclear power plants. In May, the company included 'consideration of the development and installation of next-generation advanced reactors' in its management vision for the period to 2035.
Yomiuri Shimbun
19-07-2025
- Business
- Yomiuri Shimbun
KEPCO Eyes Building, Replacing Nuclear Reactors in Japan; 1st Time Geological Surveys to Be Resumed Since Fukushima Accident
Kansai Electric Power Co. has formulated its policy of resuming geological surveys to build a nuclear reactor and replace existing ones at the Mihama nuclear power plant in Fukui Prefecture, it has been learned. The surveys had been suspended following the 2011 Great East Japan Earthquake. If realized, it would be the first step toward building and replacing new nuclear reactors, which the government considers to be a part of decarbonization efforts. KEPCO started its geological surveys to construct a new reactor at the Mihama nuclear plant in 2010 but suspended them after the nuclear accident at Tokyo Electric Power Company Holdings, Inc.'s Fukushima No. 1 nuclear power plant. After resuming the surveys, KEPCO plans to compile a basic design and submit applications for approval to the Nuclear Regulation Authority. If approved, KEPCO will proceed with construction. The company envisions building next-generation reactors, including advanced light-water reactors, which are considered to be very safe. According to sources, KEPCO plans to explain its policy to local governments and other concerned parties in the near No. 3 reactor at the Mihama nuclear plant is currently in operation, while Nos. 1 and 2 will be decommissioned. To ensure a stable supply of electricity, KEPCO believes it is necessary to accelerate such moves as replacing existing reactors. KEPCO President Nozomu Mori has made it clear the company will 'proceed with looking into the construction of a new nuclear reactor.' The operation of all nuclear power plants was suspended in Japan following the accident at the Fukushima No. 1 nuclear power plant. However, the process of restarting operations has been underway at KEPCO and other power companies, including Kyushu Electric Power Co. and Chugoku Electric Power Co. In October 2024, Tohoku Electric Power Co.'s Onagawa No. 2 reactor in Miyagi Prefecture was the first nuclear reactor to resume operations in eastern Japan since 2011. Kyushu Electric has also started to consider building a new reactor. The 7th Strategic Energy Plan, approved by the Cabinet in February this year, states it is necessary to maximize the use of decarbonized power sources, including nuclear power. The plan also eased the requirements for replacing existing reactors and states a target of having nuclear power generate 20% of the total electricity in fiscal 2040. Due to artificial intelligence becoming more widely used, data centers that consume large amounts of electricity are being constructed in various parts of the country, and demand for electricity is expected to increase. As nuclear reactors deteriorate with age, the government is said to have decided it is necessary to develop stable power sources as soon as possible. However, building a new nuclear reactor requires an investment of \500 billion to \1 trillion. As it creates a large financial burden on privately run electric companies, discussions on securing funds and building a support framework may accelerate in the future. 'We believe it is time to start seriously considering building a new reactor and replacing existing ones, taking into account the government's policies,' said a KEPCO representative. 'But we haven't made any decisions about specific plans at this point.'
Korea Herald
16-07-2025
- Business
- Korea Herald
KEPCO attracts W5.5tr funding for Saudi energy projects
The state-run Korea Electric Power Corp. has finalized the initial funding phase for its upcoming energy projects in Saudi Arabia, according to the firm on Wednesday. It secured about 5.5 trillion won ($3.96 billion) in project financing through separate agreements for Saudi Arabia's Al Sadawi photovoltaic project and the Rumah-1 and Al Nairyah-1 independent power plant projects, which will play a pivotal role in supporting the kingdom's energy transition. 'KEPCO plans to continue expanding its overseas project portfolio, focusing on new energy sectors and cutting-edge technologies,' the firm said in a statement. The financing was structured as project finance, relying solely on the local project entities' profitability and creditworthiness, without guarantees from KEPCO. KEPCO attracted funding from major financiers, including the Export-Import Bank of Korea and other international commercial banks. In June, Korea's policy lender Eximbank said it would provide some $225 million in project finance for KEPCO's Al Sadawi solar project. This contract represents KEPCO's 22nd and 23rd projects executed through overseas project financing in collaboration with domestic export financing institutions, which shows KEPCO's expertise as a developer and operator of international power projects. Facilitated by the recent financial agreements, the ongoing groundwork for these projects is now poised to transition into full construction. The Al Sadawi solar project, awarded via an international tender in October, is a 2-gigawatt renewable energy initiative, the largest solar power project in the kingdom. Total investments exceeding $1.1 billion will see about 3.7 million solar panels installed across a desert area 14 times the size of Seoul's Yeouido, or roughly 39.6 square kilometers. KEPCO expects this project to generate revenue of some 540 billion won over its 25-year lifespan. The Rumah-1 and Al Nairyah-1 plants, granted in November, will have a combined capacity of 3.6GW, amounting to nearly 2.5 percent of the national grid's capacity. It is projected to bring in 4 trillion won over 25 years.
