Mitsubishi Corp. Power Ltd., a subsidiary of Mitsubishi Corporation, along with Mitsubishi Heavy Industries, Ltd., Mitsubishi Electric Corp., Tokyo Electric Power Co. Holdings, Inc. and Joban Joint Power Co., Ltd. have established two joint ventures, Nakoso IGCC Power GK and Hirono IGCC Power GK, for the construction and operation of the world’s most advanced coal-fired power plants in Fukushima, Japan.
Approvals that were previously granted to Tokyo Electric Power Co. Holdings, Inc. and Joban Joint Power Co, Ltd., following the environmental impact assessment they had undertaken on behalf of the project, have now been transferred to the newly established companies.
The total cost of the project surpasses 300 billion yen, a portion of which will be financed from contributions made by the five participating companies. The remainder will be sourced from a number of domestic financial institutions, including The Bank of Tokyo-Mitsubishi UFJ, Ltd., Development Bank of Japan Inc., Mizuho Bank Ltd., Sumitomo Mitsui Banking Corporation and Fukushima’s The Toho Bank, Ltd. In terms of project financing, this is considered to be one of the largest ever of this scale domestically. All the contributors have signed on to providing financing within the context of their support for recovery in Tohoku following the Great East Japan Earthquake and Tsunami of 2011.
The five companies reached a basic agreement for this project on 19 August 2015, and have since been working out the details for a start-up of operations during the early 2020s. With the construction and operating companies established, financing procured, and the relevant environmental approvals obtained, the project is now ready to get underway.
Going forward, Nakoso IGCC Power GK and Hirono IGCC Power GK will each set up and operate a 540 MW plant, one next to Joban Joint Power Co., Ltd.’s Nakoso power plant in Iwaki City and the other at the site of TEPCO Fuel & Power, Inc.’s Hirono thermal power plant in the Futaba District, respectively.
The new facilities will use next generation clean coal technology based on the Integrated coal gasification combined cycle (IGCC) with operations reported to start in September 2020 in the case of the Nakoso plant and in September 2021 in the case of the Hirono plant.
Read the article online at: https://www.worldcoal.com/power/21102016/advanced-coal-fired-thermal-power-plants-set-up-in-fukushima/