Siemens Says Japan’s Renewable Capacity to Almost Double by 2030

Siemens AG (SIE), Europe’s biggest engineering company, expects Japan to almost double its capacity of renewable energy by 2030, while continuing with nuclear power generation even after the Fukushima disaster.

Renewable energy may account for 35 percent of capacity in 2030, compared with 19 percent in 2011, Kenichi Fujita, senior executive operating officer at Siemens Japan K.K., told reporters in Tokyo today. Wind power may provide more than half of the renewable capacity, he said.

Japan started offering above-market prices for renewables in July 2012 to spur investment in clean energy after the meltdowns at the Fukushima Dai-Ichi plant in March 2011 shattered public confidence in nuclear power. Japanese Prime Minister Shinzo Abe, who took office in December, promised to review the previous administration’s targets for phasing out nuclear power by the end of the 2030s and expanding renewables.

The share of nuclear power in Japan’s energy mix will fall to 15 percent by 2030, from 20 percent in 2011, Fujita said. It will probably continue to wane in the long run because the country plans to cap the lifespans of reactors at 40 years, he added.

To contact the reporter on this story: Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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