Publications

Asian actors in nuclear power industry

3 Apr 2014

Enerdata is presenting a paper on 8 April 2014 at Singapore Chamber of Commerce regarding nuclear power industry with a focus for the Asia Region. As part of the paper work we looked at the main Asian providers of nuclear technology namely, Toshiba, Hitachi and Mitsubishi Heavy Industries.

Toshiba provides the two-loop Pressurized Water Reactor (PWR) reactors. In 2006 Toshiba acquired 87% shares of Westinghouse Electric Company of USA with the aim for further developments of the global operations. In December 2013, Toshiba agreed to acquire from Iberdrola a 50% stake in NuGeneration Ltd, a UK based company, which is developing a nuclear project of 3.6 GW in UK. Toshiba increased its holdings to 60% in January 2014. Toshiba Nuclear Power business revenues are expected to grow to US$6.3bn by 2015. Apart from the UK, Toshiba has current projects at Sanmen and Haiyang in China and Vogtle and V.C. Summer in the USA. Countries of future focus are Finland, Czech Republic, Poland, Saudi Arabia and Vietnam.

Hitachi provides the Advanced Boiling Water Reactor (ABWR) reactors. Hitachi signed a strategic partnership with General Electric (GE) of USA in 2007. Hitachi acquired Horizon Nuclear Power in November 2012 that was formed in 2009 to develop 2 new nuclear power stations of 2.7 GW each at Olbury and Wylfa in the UK. Hitachi Nuclear Power business revenues were US$1.6bn in 2012 and expected to grow to US$3.6bn by 2020. Another key area for Hitachi nuclear power business is safety enhancement measures. In addition to the UK, countries of future focus are Finland, Lithuania, Saudi Arabia, Malaysia, Vietnam, Mexico and USA.

Mitsubishi Heavy Industries (MHI) provides the Advanced Pressurized Water Reactor (APWR) reactors and a mid-sized Generation III+ PWR reactor (ATMEA1), developed in joint venture with France''s Areva since 2006. Mitsubishi Nuclear Energy Systems (MNES) was established in 2006 by MHI to develop its nuclear business in the United States. MNES is currently supporting the COLA licensing efforts for Comanche Peak Units 3 and 4 (Texas). In Turkey MHI is involved in the Sinop Nuclear Power Plant Project. MHI Nuclear Power business revenues were US$2.1bn in 2012 and expected to grow to US$5.0bn by 2020. Another key area for MHI nuclear power business is Japan domestic market. In addition to the abovementioned countries, MHI will focus on Finland, Hungary, Slovenia, Malaysia, Vietnam, Indonesia, Canada and Brazil.
The strategies of the three Japanese companies started similarly with investments in the US. Then Toshiba and Hitachi moved to a UK driven nuclear business strategy whilst Mitsubishi partnered with Areva.

Toshiba and Hitachi are experiencing similar upsets following the Fukushima accident. On 11 March 2014, 3 years exactly after Fukushima, a class action lawsuit against nuclear suppliers (General Electric, Toshiba and Hitachi) has ballooned to more than 4,000 claimants seeking damages. This is the first lawsuit to be brought against nuclear power-plant suppliers over the 2011 accident.
Nevertheless, their current assets and strategic moves show that the Japanese actors will definitely play a key role in the global nuclear power generation business development.


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