The logo of JERA Co., Inc., the world’s largest LNG buyer, is displayed at the company’s office in Tokyo, Japan, on July 14, 2017.
17:16 JST, May 18, 2024
TOKYO (Jiji Press) – Japanese power generation company Jera Co. will invest about ¥5 trillion in decarbonization, partly to replace fuels for thermal power plants with ammonia and hydrogen.
The investment plan is included in the company’s growth strategy for fiscal year 2035, which was announced on Thursday.
Ammonia and hydrogen are seen as promising next-generation fuels because they do not emit carbon dioxide when burned.
In the long-term strategy, Jera, which is equally owned by Tokyo Electric Power Company Holdings Inc. group and Chubu Electric Power Co., set a target of processing 7 million tons of ammonia.
Other areas of investment include thermal energy generation using liquefied natural gas and energy generation from renewable energy sources.
Jera will keep the annual LNG transaction volume above 35 million tons. Because LNG emits less carbon dioxide than other fossil fuels, Jera plans to expand its use for power generation in Asia, where many countries rely heavily on coal-fired power generation.
On Thursday, Jera President Hisahide Okuda explained at a press conference the goal of simultaneously achieving low-carbon, stable energy supply and affordability by combining multiple options.
