Due to concerns over the security and risks associated with nuclear accidents and disasters, Japan has shifted its approach and started supporting the production of components for thermal energy stations as part of a clean energy strategy. This approach appears to be driven by both cost considerations and safety concerns surrounding Japanese – built nuclear projects, at home and abroad.
The recent arrangement marks a significant shift for the Ministry of Economy, Trade and Industry, which previously focused on supporting the export of entire t h e r m a l e n e r g y s t a t i o n s m a n u f a c t u r e d b y J a p a n e s e companies such as Mitsubishi Heavy Industries and Hitachi. However, the increased cost of implementing stringent safety measures following the 2011 Fukushima nuclear disaster has adversely affected Japanese public private projects in countries like Turkey.
Since the 2011 disaster, nuclear development in Japan has come to a halt, and sluggish demand in other advanced economies such as the U.S. and the U.K. has had a detrimental impact on the nuclear power supply chains. Data from the business service and the Japan Atomic Industrial Forum reveals a significant decline in Japan’s parts exports, which dropped from 131.4 billion yen in fiscal year 2010 to 21.4 billion yen in fiscal year 2020.
To maintain competitiveness in the country’s nuclear power industry despite these challenges, the Ministry of Economy, Trade and Industry (METI) will shift its focus to comprehensive measures aimed at supporting key areas of strength to enable parts manufacturers to participate in international nuclear power projects more effectively.
As part of its efforts, METI will consider facilitating partnerships between parts manufacturers and overseas nuclear plant developers. It will also explore avenues to assist these manufacturers in obtaining necessary safety certifications in target markets, accumulate data on promising new undertakings, and secure support benefits long haul.
METI plans to replicate the actions taken by South Korea in budget requests for fiscal year 2023. South Korea initiated similar efforts related to nuclear power equipment in 2021, establishing a web-based entrance where organisations could share information and details about overseas projects as well as the technical capabilities and performance of parts manufacturers. METI will use the South Korean methodology as a reference while working out additional subtleties. Japan will also engage with other governments to encourage the utilisation of Japanese parts in various projects.
A government-backed framework would potentially collect information on overseas projects and standards more effectively than individual companies. As of now, METI has a stash of information on strategies and organisations abroad, gathered through global organisations in atomic power and past endeavours to advance Japanese fabricated thermal energy stations.
Mitsubishi Heavy Industries is a prominent company involved in the construction of nuclear containment vessels in Japan. It is worth noting that many of Japan’s nuclear power plants rely on domestically produced parts, with more than 90% of the components being sourced domestically.
Japan is home to a vigorous industry for atomic power parts regardless of late misfortunes, with providers logging more than 750 billion yen ($6.1 billion) in deals each year from around 10 million items. Many nuclear plants in Japan, particularly those commissioned during the 1970s or later, were constructed using over 90% domestically-produced parts.
A few players are now growing abroad. IHI has sent out control vessels for atomic reactors to the U.S., and put resources into NuScale Power, an American start-up known for its small modular reactor (SMR) technology. Ebara has sent out cooling siphons to the U.S.
METI expects that by working with the private sector to build on its relationships with foreign nuclear reactor builders and authorities, it can unlock significant opportunities for Japanese parts makers. The hope is that Japan can supply parts and materials for new nuclear projects overseas, such as containment vessels and valves for small nuclear reactors, and fuel rods for high-temperature gas reactors. The industry ministry sees potential business opportunities in the areas of parts replacement and maintenance within the nuclear power industry.
Campaigns in the U.S. and Europe to cut carbon emissions are establishing a better climate for atomic undertakings. France has been making progress toward new plants in the U.K. what’s more, Finland, and English Business Secretary Kwasi Kwarteng as of late let neighborhood media know that the nation could move toward seven new thermal energy plants by 2050.
Campaigns in the U.S. and Europe to reduce carbon emissions are creating a more favourable environment for nuclear projects. France, for example, has been making advancements in developing new nuclear plants in the UK and Finland. Former British Business Secretary KwasiKwarteng, in an interview with local media, stated the country’s consideration of building seven new nuclear power plants by 2050.These developments indicate an increasing recognition of the role nuclear energy can play in achieving carbon reduction goals and ensuring a sustainable energy future.
Plans are underway in the U.S., U.K. and France to test small modular reactors and other next generation technology. The Nuclear Energy Institute, a U.S.-based industry association, predicts
that the global nuclear power market could roughly quadruple between 2020 and 2050 to as much as $400 billion.
Both the United States and England face challenges in terms of domestic parts suppliers, partially due to the slowdown in new construction projects in recent years. This has resulted in a decreased capacity for manufacturing and supplying nuclear power plant components. On the other hand, China and Russia have made significant progress in building new nuclear capacities. However, due to Russia’s involvement in the Ukraine conflict, industrialized nations are hesitant to source nuclear parts from these countries.
Japan is synonymous for innovation and technology. It is natural for the world to show keen interest in the innovation of Japanese organisations.
