J-Power to close up to 5 coal power plants by FY2030 to cut emissions
09/05/2024 12:11
TOKYO, May 9 (Reuters) - Japan's Electric Power
Development (J-Power) 9513.T said on Thursday it may close up
to five low-efficient coal-fired power generation units by the
2030 financial year ending March 2031, as part of its efforts to
reduce carbon dioxide (CO2) emissions.
The company's objective is to slash emissions by 46% from
2013 levels by 2030, in line with Japan's national target.
"We deemed it necessary to demonstrate to shareholders our
strategy for coal power plants on a site-by-site or unit-by-unit
basis," President Hitoshi Kanno told a news conference, noting
some institutional investors have voiced concerns about coal
power plants becoming stranded assets.
J-Power, Japan's No.2 coal power generator, intends to close
two 250-megawatt (MW) units at the Takasago thermal power
station in western Japan and the 500 MW No.1 unit at the
Matsushima station in southern Japan.
It may also shut two more units or repurpose them as backup
power sources, including the 700 MW No.3 unit of Takehara in
western Japan and 1,000 MW No.1 unit of Matsuura in southern
Japan.
J-Power operates coal power stations at seven sites,
boasting a total generation capacity of 8.4 gigawatts (GW),
alongside three others owned jointly with a partner.
To mitigate emissions from the remaining units, the company
aims to implement various transition measures, such as
converting them to hydrogen-run generation, blending coal with
biomass or ammonia, or adopting advanced coal gasification
technology with carbon capture storage (CCS).
In April, energy ministers from the Group of Seven (G7)
major democracies agreed to end the use of coal in power
generation during the first half of the next decade, but gave
leeway to Germany and Japan whose economies depend on the fuel.
"Our measures will reduce a certain scale of coal-fired
power and CO2 emissions by 2030," Kanno said.
"But it is essential for Japan's electricity supply to
incorporate a certain portion of transitional thermal power
sources to ensure a stable power supply," he said.
(Reporting by Yuka Obayashi
Editing by Alexandra Hudson)
((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))