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Kansai Electric Advances Japan’s First Nuclear Plant Since Fukushima Disaster

The utility plans to formally announce geological survey resumption for next-generation reactor
Japan
t 9503.TSE Mid and Small Cap 2000
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Kansai Electric Power will begin geological surveys for a next-generation nuclear power plant at its Mihama facility in western Japan, Nikkei reported, marking the first move toward building the nation’s first new reactor since the 2011 Fukushima nuclear disaster.

The utility serving the greater Osaka area is expected to formally announce the restart of site surveys in the coming days. The surveys originally began in 2010, but were suspended after a devastating earthquake and tsunami triggered triple meltdowns at Tokyo Electric Power’s Fukushima Daiichi nuclear power plant.

However, Kansai Electric said in a statement posted on its website that the newspaper report was not what the company had announced, adding nothing concrete has been decided. The company’s cautious response reflects the sensitivity surrounding nuclear development in Japan.

The move signals renewed momentum for nuclear energy, which the government sees as essential to achieving its decarbonization goals. Japan’s latest Basic Energy Plan calls for nuclear electricity generation to increase from 8.5% in fiscal 2023 to about 20% in fiscal 2040.

The policy says nuclear energy should account for 20 percent of Japan’s energy supply in 2040, with renewables expanded to 40-50 percent and coal-fired power reduced to 30-40 percent. This represents a significant shift from previous policies that sought to reduce dependence on nuclear power.

Of the 33 existing reactors in Japan, only 14 reactors have restarted commercial operation following the implementation of more stringent safety standards after the Fukushima accident. The Mihama facility currently operates one reactor that was restarted in 2021 after a decade-long shutdown.

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