J-Power Venture to Build 42MW Geothermal Plant in Northern Japan

(Bloomberg) — Electric Power Development Co., also known
as J-Power, plans to build a 42-megawatt geothermal power
station in northern Japan.

Mitsubishi Materials Corp. and Mitsubishi Gas Chemical Co.
will also take part in the project in Akita prefecture. The
plant will start running in May 2019.

State-run Japan Oil, Gas & Metals National Corp., which
announced the move in a Jan. 30 statement, will guarantee 80
percent of the 26 billion yen ($221 million) debt, which is to
be provided by a group of banks led by Mizuho Bank Ltd.

The project marks the first time for a geothermal power
station with a capacity of 10 megawatts or larger to be built in
Japan since a 27.5-megawatt station in Oita prefecture started
operations in 1996, Japan Oil, Gas & Metals said.

To contact the reporter on this story:
Chisaki Watanabe in Tokyo at
cwatanabe5@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Iain Wilson, Indranil Ghosh

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