Mitsubishi Heavy Industries (MHI) has announced the progress of its 2021 Medium-Term Business Plan, which covers the three years from FY2021 to FY2023. It includes a section on decarbonising existing infrastructure and nuclear power’s contributions to decarbonisation. MHI said renewed interest in nuclear power from a decarbonisation and energy security perspective has led several countries to announce plans for new installations. Within Japan, the latest Strategic Energy Plan aims to increase percentage of national power generation from nuclear to 20-22% by 2030. As a leader in the nuclear power technology space, MHI Group will pursue the following initiatives:
- Continue existing plant restarts and construction;
- Complete the nuclear fuel cycle;
- Design a next-generation light water reactor with further safety improvements.
Other initiatives including development of a high temperature gas-cooled reactor for hydrogen production and collaboration with US start-up TerraPower on fast reactor development.
MHI said its contributions to global decarbonisation efforts will include a variety of products and solutions in both energy supply and use areas. “In the energy supply area, we will provide a wide range of solutions tailored to the needs of each country and region, including fuel conversions of existing infrastructure, nuclear power, and CCUS [carbon capture, use and storage]. In the energy use area, we will provide innovative energy conservation, automation, and decarbonisation solutions by intelligently connecting systems through our DX technology platform, ΣSynX. MHI Group will contribute to the realization of a sustainable society through our Carbon Neutrality initiatives, which balance Energy Security, Economic Efficiency, and Safety.”