Japan to Seek Investors to Renew Thermal Plants, Mainichi Says
Japan’s government will look for investments from oil and gas companies to renew some thermal power-generating plants as a part of its plan to reorganize Tokyo Electric Power Co., the Mainichi newspaper reported.
The plan includes setting up a unit to operate the utility’s power distribution business separately from power generation, Mainichi said, without saying where it obtained the information.
Older plants the government will look to renew include facilities in Tokyo’s Oi district and in the neighboring prefectures of Kanagawa and Chiba, the newspaper said. The government will also promote joint procurement of liquefied natural gas for Tepco, as the utility is known, and Japan’s other power producers to reduce costs, the report said.
The government won’t nationalize the nuclear power business, according to the Mainichi.
To contact the reporter on this story: Kanoko Matsuyama in Tokyo at kmatsuyama2@bloomberg.net.
To contact the editor responsible for this story: Jim McDonald at jmcdonald8@bloomberg.net
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