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Conclusion of a Letter of Intent to Develop World's Most Advanced Coal-Fired Thermal Power Plants in Fukushima Prefecture

Tokyo Electric Power Company, Incorporated
Mitsubishi Heavy Industries, Ltd.
Mitsubishi Corporation
Mitsubishi Electric Corporation
Joban Joint Power Co., Ltd.
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Tokyo Electric Power Company, Incorporated (TEPCO), Mitsubishi Heavy Industries, Ltd., Mitsubishi Corporation, Mitsubishi Electric Corporation, Joban Joint Power Co., Ltd., today concluded a letter of intent to promote the development of the world's most advanced coal-fired thermal power plants in Fukushima. The project is currently being undertaken by TEPCO as part of its contribution to revitalization in the prefecture.

The project was launched with the aim of creating an industrial base and opening up job opportunities*1 in Fukushima as part of moves to support local economic recovery. The project will, at the same time, be a global leader in next-generation clean coal technology through the introduction of the integrated coal gasification combined-cycle (IGCC)*2 in plant operations.

The project aims to construct and operate two 540 MW class IGCC facilities in Fukushima: one at TEPCO's Hirono Thermal Power Station and the other at Joban Joint Power Company's Nakoso Thermal Power Station.

Drawing on the skills and knowledge gained in the power generation business, the five companies are committed to creating an industrial base in the prefecture, to be achieved by executing construction works and procuring relevant materials as well as through follow-up surveillance assessments once operations have commenced, all with the goal of contributing to speedy revitalization in Fukushima.

The letter of intent allows the five partners to move on to practical considerations for the early realization of the project. Operating as the "Fukushima Revitalization Power Consortium", the companies will be working to implement the project with operations slated to start in the early 2020's, and with the support and cooperation of local residents, the national government and Fukushima's prefectural and local governments.

*1 Creating an industrial base and opening up job opportunities
From the start of relevant environmental assessment through to implementation of operations, the project is expected to generate an economic ripple effect in Fukushima Prefecture estimated at 80 billion yen per plant over the next few decades, with employment opportunities for up to 2,000 persons/day at the peak of construction.

*2 Integrated coal gasification combined-cycle (IGCC)
IGCC systems generate power using a combined-cycle format incorporating coal gasification and both gas and steam turbines. IGCC systems offer enhanced generation efficiency**, as well as reductions in carbon dioxide (CO2) emissions of about 15% in comparison with the latest conventional coal fired power plant.
** Thermal efficiency: approximately 48% (net thermal efficiency based on a lower heating value basis.)


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