Mitsubishi Heavy Industries (MHI) aims to double sales from its nuclear business, to ¥600 billion ($6.25 billion), in the next ten years, according to the company's vice president, Ichiro Fukue.
|Steam generators for nuclear power plants (Image: MHI)
He said this growth would be attained through new plant construction, after service sales and through its nuclear fuel cycle business, including its new fuel fabrication joint venture with France's Areva.
MHI, Mitsubishi Materials Corp (MMC), Mitsubishi Corp (MC) and Areva signed the shareholders agreement in February to form a joint venture company in the nuclear fuel fabrication business. The new company was established in April and is preparing to build a new factory in the USA.
Fukue's remarks came during a business briefing of MHI's energy and environment business division. The company said it expects around 130 new nuclear power plants to be constructed worldwide, excluding China, up to 2030.
Akira Sawa, MHI's executive vice president, said that the company plans to sell an average of two nuclear reactors annually up to 2030.
The company is ruling out China as a sales target for new nuclear plants because it expects the country will favour locally made reactors. However, MHI still aims to sell components, such as turbine, to China.
MHI has supplied large components to many nuclear power plants worldwide, including new and replacement parts. MHI produces steam generators, reactor pressure vessels, reactor vessel heads, steam turbines and reactor coolant pumps.
The company has also developed nuclear power plants, such as the 1700 MWe US-APWR, a larger and US-specific version of its 1538 MWe Advanced Pressurized Water Reactor, two of which it is contracted to build for Japan Atomic Power Co at Tsuruga. US power generator Luminant has chosen US-APWRs as the basis for plans to build two new reactors at the Comanche Peak site in Texas. MHI is also in collaboration with Areva to design a new reactor of around 1100 MWe, known as Atmea, suitable for countries with smaller electricity transmission grids.