Japan’s NRA rejects restart for Tsuruga No.2 reactor
Japan's Nuclear Regulation Authority (NRA) today rejected a draft safety clearance for Japan Atomic Power's (JAPC) 1,160MW Tsuruga No.2 reactor to restart operations.
This is the first time the NRA has rejected a draft safety clearance for a nuclear reactor since it was set up in 2012.
The NRA plans to receive technical and scientific comments from the public for 30 days from 29 August and then will make an official, final decision. It is unclear when NRA will make this final decision.
A NRA committee on 26 July dismissed a claim by JAPC arguing that an earthquake fault line under Tsuruga in west Japan's Fukui prefecture is unlikely to be active, so operating the Tsuruga No.2 reactor will be safe even if a disaster occurred. The NRA on 28 August said that there were many mistakes and falsifications of documents and data submitted by JAPC, resulting in it taking around 10 years to assess the safety of the reactor.
JAPC said it will continue to attempt a restart of the Tsuruga No.2 reactor.
Japan's guidelines prohibit any reactors from being built above an active fault line. The NRA and seismologists in 2015 concluded that JAPC's Tsuruga No.1 and No.2 reactors were located above such a fault line. But JAPC said in 2015 that NRA's conclusion was unacceptable, claiming its own assessment showed the fault line was inactive.
Japan, which is one of the world's most seismically active countries, has been checking the status of tectonic fault lines underneath reactors since a devastating earthquake and tsunami sparked a nuclear disaster at Tokyo Electric Power's Fukushima power plant in March 2011.
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Batteries, oil reserves top Korea’s trade budget focus
Batteries, oil reserves top Korea’s trade budget focus
Singapore, 28 August (Argus) — South Korea's trade, industry and energy ministry (Motie) today announced its 2025 budget proposal, which has a focus on fostering high-tech industries such as batteries and semiconductors, and bolstering oil reserves. Other key areas include ensuring reserves of key metals, as well as expanding low-carbon energy. Motie's proposed 2025 budget totals W11.5 trillion ($8.6bn), up by 0.2pc or W21.8bn from the previous year. The budget proposal will be submitted to the National Assembly in early September for approval and will be confirmed in December. High-tech industries Motie will expand funding for developing high-tech strategic industries such as semiconductors and secondary batteries by 17pc to W2.09 trillion in 2025. The ministry will extend support totalling W31.2bn to further develop battery management system technology and infrastructure to assess the safety of electric vehicle (EV) batteries, with the ministry citing recent heightened safety concerns following multiple fires involving EVs. The incidents had prompted domestic EV manufacturers to disclose otherwise confidential battery information. Resource security Motie will raise funding to boost economic security by 1.4pc to W1.85 trillion in 2025, which includes developing resources, as well as bolstering stockpiles of oil and key minerals. Of the W1.85 trillion, investment in developing oil fields will rise by 5.2pc to W50.6bn. This includes funds to support the first exploration drilling in the deep-sea gas field in the east sea , with results expected by the first half of 2025. The country plans to invest W79.9bn in 2025, up by 20pc from 2024, in oil storage, and to expand oil reserves to over 100mn bl. Stockpiling of key minerals such as lithium, cobalt and rare earth elements will continue, but the South Korean government is shifting its focus to building and maintaining stockpile infrastructure given stable mineral prices. Its budget for key minerals stockpiling will be lowered by 58pc from this year's W233.1bn to W96.9bn for 2025, but the allocated budget for construction and maintenance will surge by over sixfold to W116.3bn from this year's W18.7bn. The country will also support concluding supply deals for urea and further develop technology to cut import dependence. Low-carbon energy Motie's "carbon-free" energy budget is largely focused on developing the nuclear power industry as a key export driver, with W11.6bn allocated. The Czech government in July selected Korea Hydro and Nuclear Power (KHNP) as the preferred bidder for the installation of two nuclear reactors at the site of its 2GW Dukovany power plant, although US nuclear developer Westinghouse and French utility EdF are challenging the tender results . The government is also extending W198.4bn in funds to expand renewable energy supply. Of this, W42bn will be allocated to support low-carbon energy projects, which Motie expects to attract funding of up to W525bn in the renewable energy market. By Tng Yong Li and Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Coal developments at odds with Cop fossil fuel pledge
Coal developments at odds with Cop fossil fuel pledge
London, 27 August (Argus) — Coal market developments, particularly in India and China, are at odds with the direction of recent UN climate summits, including Cop 28 in Dubai last year, which set the stage for the "beginning of the end" for the fossil fuel era. Despite calls to accelerate the phase-down of unabated coal-fired power generation, global coal trade is set to reach a record high of more than 1.5bn t this year, surpassing last year's 1.38bn t. Coal-fired power is likely to remain resilient, supported by higher electricity demand growth in China and India, according to energy watchdog the IEA. A total 15.6GW of coal-fired power capacity was added in the first half of this year, mostly in Asia-Pacific. This was far more than the 12GW that retired globally over the same period, and does not account for an additional 227.5GW that was still under construction as of the end of June, according to US-based Global Energy Monitor. Current global operational capacity of 2.12TW is down only slightlyfrom 2023's record 2.13TW. China and India's intentions for coal are key for global climate goals — they account for 203GW of the capacity under construction — but Beijing and New Delhi unsurprisingly watered down a coal deal at Cop 26 in 2021. China has not set a new nationally determined contribution, or climate plan, since 2021, but it is expected to ramp up its ambitions in a new plan by the start of 2025. It admitted its heavy dependence on coal is straining its environmental goals.China's coal imports grew by 12pc on the year to a record high in January-June. China's coal-fired generation increased by 1.5pc on the year to 3,000TWh in the first half of 2024, Argus data show, although solar and hydropower output also rose. Assuming a stronger rebound in hydropower generation over the rest of this year, China's coal-fired generation could be static or fall slightly, according to the IEA. And China last month announced its plans to explore co-firing renewable ammonia and biomass at its coal-fired plants, as well as carbon capture, utilisation and storage for some projects by 2025. India's coal-fired generation will remain robust and is likely to increase by 7pc this year, according to the IEA. The country experienced a prolonged heatwave in the first half of this year, causing coal-fired generation to rise by 10pc to 676TWh over the period, according to Argus data. The IEA expects higher renewable power output in India will limit the increase in coal-fired generation to 2pc in 2025. Vicious cycles? India and Indonesia are strongly encouraging higher coal production to ensure energy security. In tandem, record temperatures and a prolonged heatwave across most of Asia has boosted power demand this year, straining grids and causing power cuts. Vietnam is also an increasingly important consumer and is set to become the third-largest coal importer by 2035 — behind only China and India. Vietnam has 27.2GW of operating coal-fired capacity at present, and an additional 6GW is in the pipeline. Coal continues to play a key role in the country's $15.8bn Just Energy Transition Partnership plan, which is supposed to help decarbonise its economy. Peak power demand is met by coal in Vietnam, India, Indonesia and China. Unlike in Europe, where the coal-fired fleet is older, it is harder to make an economic case for retiring Asia-Pacific's newer plants, and the region's grids do not yet have the flexibility to replace base-load power. This year has brought some progress in developed economies, with G7 leaders committing to a coal phase-out by 2035. But no concrete policies have been passed, and the countries limited themselves to calling for reducing coal use "as much as possible" — providing room for manoeuvre for Germany, Japan and the US. By Ashima Sharma and Joseph Clarke Global coal-fired capacity TW Global coal capacity additions, retirements MW Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Private finance key to reaching renewable goals
Private finance key to reaching renewable goals
London, 27 August (Argus) — Global additions to renewable energy capacity have accelerated but are still well below the target pledged at last year's UN Cop 28 climate talks to triple renewable capacity by 2030. Europe in particular will need to focus on attracting private finance in order to meet this ambition. Global renewable capacity additions rose by 64pc on the year to a record 560GW in 2023, according to energy watchdog the IEA. If maintained, this annual pace would be sufficient to reach the targets outlined in 150 individual countries' policies and plans, which add up to 8TW of installed renewable capacity by 2030. But this would still be 30pc short of the Cop 28 tripling pledge, which equates to 11TW by 2030. Challenges to reaching this higher target include lengthy authorisation processes, inadequate government support and financing costs, the IEA says. Nearly 50 countries are on track to reach or surpass their plans, with China being by far the largest contributor. China installed almost 350GW of renewable capacity in 2023, more than half of the global total. Europe aims to almost double its renewable capacity from 2022 to 1.6TW by 2030 — 20pc of the global 8TW ambition. Germany accounts for almost a quarter of Europe's target, followed by Spain, Italy and France, which together with the UK make up another third. Europe is the second-highest contributor to global renewable capacity ambitions after China. But whether the EU and the broader region will be able to deliver on Cop 28 pledges will depend on projects' bankability. Streamlined authorisation processes and government subsidies have largely driven faster renewables build-out in Europe, but market-based obstacles remain. The list of announced and under-development projects in Europe is growing rapidly, with plans for more than 467GW to enter operation by 2030, according to trade group the Energy Industries Council. Combined wind and solar capacity additions totalled 73GW last year, up from around 64GW in 2022. And renewable generation in the EU, including nuclear, reached a record 44pc share of the bloc's electricity production last year. But higher component costs, financing difficulties and supply chain issues have stopped some projects, with wind assets more affected than solar. Swedish utility Vattenfall last year halted development of the 1.4GW Norfolk Boreas offshore wind farm in the UK, scheduled to enter operation in 2027. Its "locked-in" contract-for-difference revenue no longer reflects changed market conditions, the firm says. Non-level playing field The levelised cost of electricity generated by wind and solar power is currently well below that of fossil fuel-fired generation, but high interest rates make financing wind and solar costlier, squeezing profit margins. The global average cost of capital for renewable power firms increased to 7pc of market value in the first quarter, its highest since at least 2018, according to the IEA. Renewable projects are typically more reliant on debt and equity financing than fossil generators because of higher upfront costs, which may strain the build-out going forward. European day-ahead and intra-day power markets have experienced recurring instances of low or negative prices, making projects less attractive to private investors. The deployment of flexible assets such as battery storage and interconnectors is not keeping pace with renewables build-out, causing wind and solar output to saturate markets during periods of lower demand. The German government said in July that subsidised renewable plants would no longer be supported during periods of negative wholesale power prices from 2025. "A green intermittent electron has no value or little value" without integration with flexible assets such as batteries or gas plants, TotalEnergies chief executive Patrick Pouyanne says. By Timothy Santonastaso Renewable capacity additions by region Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Indonesia eyes retiring 13 coal-fired power plants
Indonesia eyes retiring 13 coal-fired power plants
Manila, 27 August (Argus) — Indonesia's energy ministry (ESDM) is looking to retire 13 coal-fired power plants before 2030, as part of the country's efforts to cut emissions in line with its net zero goals. The ESDM identified the 13 coal-fired power plants through a study jointly conducted by the Bandung Institute of Technology (ITB) and the United Nations Office for Project Services (UNOPS), it said. The 13 plants were identified as candidates for early retirement based on multiple factors such as economic life, electricity production offtake, and emission levels in relation to electricity produced, the ESDM said. The units have an estimated total capacity of 4.8GW and collectively produce roughly 48mn t of CO2 equivalent (CO2e), it added. The ministry did not indicate the 13 plants' coal consumption volumes. All 13 units are owned by state-owned utility PLN, which could make them easier to shut down compared to independent power producers which are owned by private-sector companies. The ESDM did not identify the 13 plants, but it named three locations which it will be prioritising. It is looking to close part of the 4GW Suralaya power complex in Banten province, specifically the older units which have been operational since 1984. These units are nearing the end of their economic life and have high emissions output, making them prime candidates for early retirement. Another power plant complex identified in the study is PLN's unit at the 4GW Paiton power complex. The ESDM also aims to retire the 200MW Ombilin plant in west Sumatra as the plant is utilised mainly as a peaking plant, which is a facility that operates only when there is a need for additional power. This means its shutdown will have minimal impact on the community, the ESDM said. The ESDM is currently drafting a ministerial regulation to retire the identified power plants. The said regulation will also serve as a reference for future early retirement efforts. By Antonio delos Reyes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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