TEPCO to Invest $42bn on Low Carbon Technologies by 2020

14 September 2010 (Last Updated September 14th, 2010 18:30)

Tokyo Electric Power plans to spend 3.5tn ($42bn) on low-carbon technologies by 2020 to meet domestic and overseas demand for cleaner power generation. The utility will invest ¥2.5tn ($30bn) in building and replacing nuclear reactors, expanding renewable energy use and developing m

Tokyo Electric Power plans to spend 3.5tn ($42bn) on low-carbon technologies by 2020 to meet domestic and overseas demand for cleaner power generation.

The utility will invest ¥2.5tn ($30bn) in building and replacing nuclear reactors, expanding renewable energy use and developing more efficient thermal-power projects in the next ten years, according to Bloomberg.

TEPCO president Masataka Shimizu told Bloomberg that it will also invest about ¥1tn ($12bn) in growing businesses, mostly overseas operations in the period.

The firm plans to source about a third of its liquefied natural gas supplies by 2020, compared with the current 11%.

Tokyo Electric will also increase investment in uranium projects to about half of the necessary amount for its nuclear-power stations, compared with 8% now.