Osaka Gas to withdraw from coal-fired power station project

UBE

24/04/2019 07:45

TOKYO, April 24 (Reuters) - Japan's Osaka Gas Co Ltd
 9532.T  said on Wednesday that it will pull out of a plan to
build a coal-fired power plant in Yamaguchi, western Japan,
citing changes in the electricity market and future business
risk.
    Osaka Gas had planned to build a 1.2-gigawatt (GW)
coal-fired power station in Ube, Hiroshima, aiming to start
operations around 2026, with partners Electric Power Development
(J-Power)  9513.T  and Ube Industries Ltd  4208.T .
    The move by Osaka Gas comes after other Japanese companies
have withdrawn from new coal-fired power projects amid growing
global pressure for companies to divest coal assets due to
environmental concerns.
    

 (Reporting by Yuka Obayashi; editing by Richard Pullin)
 ((Yuka.Obayashi@thomsonreuters.com; +813-6441-1798; Reuters
Messaging: yuka.obayashi.thomsonreuters.com@reuters.net))