Mitsubishi Heavy Industries (TYO:7011) is in talks with over 200 suppliers to develop an advanced light-water reactor it aims to launch in the 2030s, Nikkei reported Wednesday.
The firm has verified the availability of about 150 key components and may seek alternatives for the rest. The move aligns with Japan's energy policy to replace aging reactors, though no new projects have been approved, according to the report.
Japan's supply chain can produce nearly all reactor parts domestically, but a decade-long freeze on new builds has strained technological capabilities. Mitsubishi Heavy has taken over some component manufacturing after key suppliers exited or went bankrupt, the report said.
Rising demand for low-emission power and AI-related electricity needs has renewed global interest in nuclear energy. At COP28, 22 nations pledged to triple capacity by 2050. Japan, however, remains cautious-its newest reactor came online in 2009, according to the report.
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