Japan Intends Considering Subsidy Grants for Nuclear Power Revival

Japan, which has made a U-turn in its nuclear energy policy in the wake of last year’s energy crisis, is considering granting subsidies to help with the necessary upgrades at nuclear power plants that are currently idle.
Nuclear power stations in Japan will be invited to take part in an auction in 2024 to get government subsidies for the necessary safety upgrades, Bloomberg reported on Wednesday, citing documents of the Japanese Ministry of Economy, Trade and Industry. The winning projects would give the nuclear power plants subsidies for 20 years that would help cover the costs for meeting the much stricter safety standards after the Fukushima disaster in 2011.
In the wake of the disaster, Japan closed all its nuclear power plants that underwent rigorous safety checks and inspections.
In recent years, Japan has restarted part of its nuclear power facilities. The first two reactors restarted in August and October 2015, with a further eight having restarted since. A total of 16 reactors were in the process of restart approval as of February 2023, according to the World Nuclear Association.
Japan, which has made a U-turn in its nuclear energy policy in the wake of last year’s energy crisis, is considering granting subsidies to help with the necessary upgrades at nuclear power plants that are currently idle.
Nuclear power stations in Japan will be invited to take part in an auction in 2024 to get government subsidies for the necessary safety upgrades, Bloomberg reported on Wednesday, citing documents of the Japanese Ministry of Economy, Trade and Industry. The winning projects would give the nuclear power plants subsidies for 20 years that would help cover the costs for meeting the much stricter safety standards after the Fukushima disaster in 2011.
In the wake of the disaster, Japan closed all its nuclear power plants that underwent rigorous safety checks and inspections.
In recent years, Japan has restarted part of its nuclear power facilities. The first two reactors restarted in August and October 2015, with a further eight having restarted since. A total of 16 reactors were in the process of restart approval as of February 2023, according to the World Nuclear Association.

Source: oilprice.com

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