March 31, 2016
Kobe Steel, Ltd. announces that it has decided to use project finance to procure funds for its electric power supply business in Moka, Tochigi Prefecture, Japan. Today, project finance was arranged consisting of Kobelco Power Moka, Inc. as the borrower.
Kobe Steel has been examining ways for financing from various perspectives. It decided on project finance for the reasons below.
An environmental impact assessment is currently underway for this project in Moka. In February, Kobe Steel received recommendations from the Minister of Economy, Trade and Industry on the environmental impact assessment preliminary report and on March 28 submitted the environmental impact assessment report. If procedures progress smoothly, construction will begin in summer this year and the first unit will go into operation in the second half of 2019. Kobelco Power Moka, Inc. plans to establish a solid business base for the stable supply of electricity.
|(In operation)||(Under planning)||(Under planning)|
|Company or project name:||Kobelco Power Kobe, Inc.*||Kobelco Power Moka, Inc.||Kobe Works Power Plant (provisional name)|
|Location:||2, Nadahama Higashicho, Nada-ku, Kobe, Hyogo
(within Kobe Works)
|15, Kinugaoka Moka, Tochigi||2, Nadahama Higashicho, Nada-ku, Kobe, Hyogo
(within Kobe Works)
|Power generation scale:||1,400,000 kW
(700,000 kW x 2)
(624,000 kW x 2)
(650,000 kW x 2)
|Power generation method:||Pulverized coal-fired, supercritical pressure power generation (SC)||Gas turbine combined cycle (GTCC)||Pulverized coal-fired, ultra-supercritical pressure power generation (USC)|
|Start of supply:||No. 1 unit: April 2002
No. 2 unit: April 2004
|No. 1 unit: 2H 2019
No. 2 unit: 1H 2020
|No. 1 unit: FY2021
No. 2 unit: FY2022
* On April 1, 2016, Shinko Kobe Power Inc. will change its name to Kobelco Power Kobe, Inc.
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