Tokyo
Reuters
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The company said it will begin investigating the construction of a new nuclear power plant at the Mihama Power Plant in Fukui Prefecture, western Japan, to replace the existing facilities.
The decision marks Japan’s first concrete step towards the construction of a new reactor since the 2011 Daitoyo Japan earthquake caused a meltdown at Tokyo Electric Power Company’s Fukushima plant and started shutting down.
Japan is heavily dependent on imports of fossil fuels, and the government hopes that nuclear power will contribute to the country’s energy security. Kansai Electric is currently Japan’s largest nuclear operator based on the number of online reactors.
The study focuses on topography, geology and other research and includes communication with local residents, the company said.
“We consider the SRZ-1200 advanced photowater reactor as the most realistic option given overall cost performance, plant operations and compliance with the new regulations,” Hiroaki Kitaura, chief manager of Kansai’s nuclear power division, told the briefing.
Mitsubishi Heavy Industries is collaborating with four utilities, including Kansai Electric and Hokkaido Electric Power Company, on the basic design of nuclear reactor types.
While Kansai Electric did not provide an estimate of construction costs, Kitaura said the funding will be raised through bonds, loans and other means, adding that stock issuance is not currently planned.
The company has been analyzing the successors of Mihama No.1 reactor since November 2010, but has stopped investigating post-disaster in 2011. In 2015, it decided to discontinue Mihama’s No. 1 and No. 2 nuclear reactors.
“With the expected significant nuclear power losses, next-generation reactors must be rebuilt based on the assumption that they will ensure safety and deepen understanding of the region,” Yoji Moto, Minister of Economy, Trade and Industry, said on Tuesday.
Japan currently operates dozens of nuclear reactors with a total capacity of around 12 gigawatts. Many people are undergoing relicensing to meet stricter safety standards implemented after the Fukushima disaster. Before 2011, Japan operated 54 nuclear reactors.
