On Saturday, an unnamed source said Tokyo Electric Power Co (Tepco) had formed a special partnership with three Mitsubishi firms to build power plants that would be energy efficient. The plants would be built in Fukushima, Japan, which coincidentally is the home of the famous nuclear plant which encountered containment problems due to the effects of the earthquakes and tsunami in Japan almost two years ago.
Tepco had been feeling the heat after three of its reactors at the Fukushima Daiichi plant just north of Tokyo experienced core meltdowns due to the weather. The combined forces of the earthquakes and a tsunami had triggered explosions in the plant, which led to a forced evacuation of some 160,000 from towns and villages near the plant. All its nuclear plants in the area were closed since then due to a public uproar. The Reuters report said Tepco had no immediate plans to reopen the nuclear facilities after incurring public distrust and shutting the nuclear plant down subsequently.
Mitsubishi Electric, Mitsubishi Corp and Mitsubishi Heavy has tied up with Tepco to build integrated gasification combined-cycle (IGCC) stations in Fukushima, effectively replacing the ones Tepco had shut down. These plants would be coal-fired, which were said to be more environment-friendly. The partnership would also have the three Mitsubishi group companies acquire majority stakes in the proposed facilities. Cash-strapped Tepco, on the other hand, would be left in charge of operating the new plants, said the source. The consortium had planned to put the plants online around the year 2020, the source added.
The joint venture was a strategic move for Mitsubishi Heavy, which aimed to be the leader in the IGCC technology, which is fairly new in the industry. The technology reportedly increase output of power by 20% using the same amount of fuel as compared to conventional coal-powered plants.
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