Japan’s Chubu Electric buys stake in U.S. SMR developer NuScale
- September 13, 2023
- Posted by: Quatro Strategies
- Categories: Asia Pacific, ESG & Renewable Energy, United States
Japan’s Chubu Electric Power has announced plans to purchase a stake in U.S.-based NuScale Power from the Japan Bank for International Cooperation (JBIC). The move signifies Chubu Electric Power’s commitment to small modular nuclear reactors as part of its efforts to address climate change. Japan has experienced a significant policy shift in the nuclear power sector, prompted by the 2011 Fukushima disaster and ongoing energy concerns.
The specifics of the stake, such as its size and price, were not disclosed. However, Chubu Electric Power indicated its intention to take “not more than a majority of the JBIC’s holdings.” JBIC, alongside two Japanese companies—JGC Holdings Corp and IHI Corp—acquired a total of 8.5% of NuScale in 2022, with JBIC investing approximately $110 million.
Small modular reactors (SMRs) are considered a promising option due to their quicker construction and lower costs compared to conventional nuclear units. In the U.S., the Biden administration views the development of SMRs and the maintenance of existing nuclear plants as critical to its goal of achieving a carbon-neutral economy by 2050.
While the adoption of SMRs in Japan may not occur immediately, Chubu Electric Power expressed high expectations for the future development of next-generation reactors in the country. The acquisition by Chubu Electric Power is subject to approval by U.S. authorities, with the process expected to take around one month.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
North America closes ranks as Mexico tilts toward U.S. in tariff clash
Mexico’s decision to prepare sweeping tariff hikes on Chinese goods marks a turning point in both its domestic economic strategy and its alignment with the U.S. under Donald Trump. The move, embedded in President Claudia Sheinbaum’s 2026 budget proposal, reflects converging pressures: shielding Mexican industries from subsidized Chinese competition, appeasing Washington’s trade demands, and shoring up government revenue in a period of fiscal strain.
The Sheinbaum administration’s planned tariffs dovetail with Trump’s long-floated concept of “Fortress North America,” which envisions the U.S., Mexico, and Canada tightening their internal supply chains while raising walls against Chinese imports. For Washington, this policy serves dual goals: reducing backdoor flows of Chinese products into the U.S. via Mexico and reinforcing Trump’s reshoring agenda.
Global missile boom signals new era of strategic rearmament
The global missile industry is enjoying a historic boom, as demand for offensive and defensive missile systems surges amid a confluence of geopolitical crises, rising great-power competition, and a shifting defense technology landscape.
For Western defense contractors—particularly Lockheed Martin, RTX (formerly Raytheon), Northrop Grumman, MBDA, and Kongsberg—the renewed urgency around missile procurement is translating into record orders, swelling backlogs, and robust sales growth, even as other arms of the defense-industrial base struggle with cost overruns and changing procurement priorities.
JERA and Exxon collaborate on low-carbon hydrogen and ammonia project in the US
JERA, Japan’s leading power generator, announced on Monday its collaboration with Exxon Mobil to explore the development of a low-carbon hydrogen and ammonia production project in the United States. Exxon is currently working on what is anticipated to be the world’s largest low-carbon…