According to the latest Bloomberg report, Japan’s biggest electricity wholesaler knows that it will take more than cutting-edge coal technology to save the environment.
Electric Power Development Company (J-Power), is looking to build its first major power plant that burns natural gas near cities such as Tokyo as well as use more woody biomass instead of fossil fuels.
Even the most advanced coal technology is no longer enough for companies like J-Power to meet Prime Minister Shinzo Abe’s emissions goal.
Japan is seeking to cut carbon dioxide emissions and reduce energy consumption to lessen its impact on global warming, with the Abe government adopting an efficiency target for thermal power producers to meet by the year 2031.
J-Power shares jumped 5.7% to 2773 yen at the close in Tokyo on 1 February.
Japan’s trade ministry put in force regulation in April last year that requires power producers to increase thermal generation efficiency, a measure determined by dividing energy output with the power plant’s fuel input to 44.3% or more by the year ending March 2031. Existing coal-fired facilities with the latest available technology have a generation efficiency of about 41.5%. Some LNG plants have a generation efficiency of more than 50%.
Without the expertise for procuring LNG and the necessary terminals for receiving the fuel, J-Power may need to tie up with other power and gas companies with existing LNG infrastructure to expand its supply of power from natural gas.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/01022017/j-power-turning-to-natural-gas/