1st Transition Bond (May, 2022)Investor Relations / ESG Finance
Status of Funds allocated
Funds have been fully allocated.
| Items | Contents |
|---|---|
| Funds raised | JPY 19.9 billion（the amount excluding issuing costs） |
| Funds allocated * | Total 19.9 billion
|
| Funds allocated for past expenditures | Total JPY11.0 billion
|
| Funds unallocated | JPY 0 billion |
* The final allocation amount for ammonia/hydrogen co-firing technical verification is JPY 8.5 billion while its actual expenditures exceed this amount since the decommission of existing inefficient thermal power plants is prioritized in funds allocation.
Project overview and progress
Demonstration projects of fossil fuel and ammonia/hydrogen co-firing
| Project | Project Overview and Progress | |
|---|---|---|
| Demonstration study of 20% ammonia co-firing in a 1 million kW class coal-fired power plant | Project Overview | Development and demonstration test of technology to convert 20% of fuel (calorific value ratio) to ammonia at Hekinan Thermal Power Station Unit 4 (Project period: June 2021 - March 2025). JERA and IHI to Start a Demonstration Project Related to Ammonia Co-firing at a Large-Scale Commercial Coal-Fired Power Plant | Press Release(2021) |
| Progress | Good results were obtained in a demonstration test, with nitrogen oxide (NOx) emissions equal to or lower than those before ammonia substitution (coal single-fuel combustion). In addition, a maximum substitution rate of 28% (at 600,000 kW operation) was achieved. Conclusion of Fuel Ammonia Substitution Demonstration Testing at Hekinan Thermal Power Station | Notice(2024) |
|
| Demonstration project to establish the higher-ratio ammonia co-firing technology in the commercial coal-fired power plant | Project overview | Development of a new ammonia high-efficiency burner and study on equipment specifications (~FY2024), and technical development and demonstration tests to convert more than 50% (calorific value ratio) of the fuel to ammonia at the Hekinan Thermal Power Station (Project period: FY2021 - FY2030). JERA and IHI Start a Demonstration Project of Technology to Increase the Ammonia Co-firing Rate at Hekinan Thermal Power Station | Press Release(2022) |
| Progress | The development of a high ammonia substitution burner capable of substituting more than 50% of ammonia has been completed by IHI Corporation in the combustion test furnace. | |
| Technical verification of hydrogen co-firing power generation for the construction of a large-scale hydrogen supply chain | Project overview | Examination for demonstration tests at large-scale LNG-fired power plants in Japan to convert approximately 30% (by volume) of LNG into hydrogen for power generation (Project period: October 2021 to March 2025). JERA Starts Hydrogen Utilization Demonstration Project at an LNG Thermal Power Plant in Japan | Press Release(2021) |
| Progress | Based on the feasibility studies conducted to date, as a power generation operator, no new technological development elements that require demonstration from FY2028 have been identified. Additionally, multiple demonstration tests using large-scale gas turbines for power generation purposes are currently being conducted both domestically and internationally. Therefore, it has been determined that the significance of advancing technological demonstration from FY2028 through this project has been lost. Regarding the “decision on whether to commence plant EPC and verification” set as the stage gate target for FY2024 in this Green Innovation Fund Project, JERA has not reached the decision to proceed with the technical demonstration for this project. Additionally, JERA is currently conducting the hydrogen property assessment as a separate project to evaluate the potential impact of trace substances (benzene, toluene, etc.) in hydrogen on gas turbines. ENEOS and JERA to Start R&D to construct hydrogen quality standard system under NEDO’s commissioned Project | Press Release(2023) |
|
Decommissions of existing inefficient thermal power stations, with the aim of replacement by high-efficiency thermal power stations
| Project | Project Overview and Progress | |
|---|---|---|
| Demolition of Goi Thermal Power Station | Project overview | Demolition of existing power generation facilities at Goi Thermal Power Station (LNG) (construction completion date: September 2023). |
| Progress | The demolition work was completed in March 2024. | |
| Demolition of Chita Thermal Power Station | Project overview | Demolition of existing power generation facilities at Chita Thermal Power Station (LNG) (construction completion date: July 2026). |
| Progress | The demolition work smoothly proceeds as of April 2025. | |
Third-party Assessment of Eligibility
DNV Business Assurance Japan K.K., a third-party assessment agency, has conducted an assessment to evaluate compliance with various standards after transition bond issue.
Periodic review No.1[694KB]
Periodic review No.2[954KB]
Periodic review No.3[1.48MB]