Hokuriku Electric Power Company (TYO:9505) approved plans to construct a 600,000 kW LNG-fired power unit at the Toyama Shinko Thermal Power Station, according to a Monday filing on the Tokyo Stock Exchange.
The new unit will replace coal and oil-fired plants, cutting CO2 emissions by about 2 million tons annually.
Preliminary surveys and facility design are underway, with construction expected to start in fiscal 2029 and operations in fiscal 2033. The company aims for carbon neutrality by 2050, incorporating hydrogen, ammonia, and CCUS technologies.
Price (JPY): $788.10, Change: $+6.1, Percent Change: +0.78%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.