Japanese power utility TEPCO has approved a financial support to Japan Atomic Power Co (Japco) to help the company take safety measures required to restart its 1,100 MW Tokai Daini nuclear power plant near Tokyo. The power plant has been mothballed since the Fukushima disaster in 2011 but in late 2018, the nuclear regulator approved a licence extension for the 40-year reactor. The amount of the financial help was not disclosed and safety upgrades are expected to be completed by March 2021.
Japco is owned by the main utilities in Japan, namely TEPCO, Kansai Electric, Chubu Electric, Hokuriku Electric, Tohoku Electric and Electric Power Development Company (J-Power). The company's two nuclear power plants, Tokai Daini (Tokai 2) and Tsuruga, have been offline since 2011, causing financial difficulties to Japco. Earlier in October 2019, the company turned to its shareholders to inject another JPY 350bn (US$3.2bn) of financial support.
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