The Japanese utility Kansai Electric Power Company (Kepco) has announced that it is abandoning plans to build a 3.7 GW LNG-fired power plant, planned for construction south-west of Osaka (central Japan). The Wakayama power plant was most recently scheduled to come online in 2033.
The company originally started looking into the construction of the LNG power plant back in 1995. Preliminary work at the Wakayama site started in 2000, but construction was suspended in 2004 due to factors including a decline in demand. It was expected to become one of the largest fossil-fuel power plants operated by Kepco, which serves the greater Osaka area. A loss of about JPY123bn (US$858m) incurred by the cancellation is scheduled to be recorded in Kepco’s third quarter financial statement.
As of 2022, gas-fired power generation represented 22% of Japan’s installed capacity with nearly 79 GW and 33% of its power generation with 340 TWh.
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