Subject: [cwj 76] Enron Plans to Build Power Plant in Japan
From: Corporate Watch in Japanese <cwj@corpwatch.org>
Date: Thu, 17 Aug 2000 18:07:59 -0700
Seq: 76

For more information on controversial Enron corporation, check out
http://www.corpwatch.org/feature/election/

August 18, 2000
     
TOKYO (Nikkei)--Enron Corp., an energy company based in the U.S. state of
Texas, plans to build a thermal power plant in Japan, with the aim of
retailing electric power to large-scale users, The Nihon Keizai Shimbun
learned Thursday.  Construction is expected to begin within 12 months.
     The U.S. firm has begun the process of picking a construction site
from several possible locations in Tohoku, Kanto and other areas.
Currently, one of the two candidate sites in Fukuoka Prefecture is seen as
most likely to be selected.
     Construction will likely be undertaken by E-Power KK, a venture
jointly launched with Orix Corp. (8591) to retail electricity in Japan.
The envisaged power plant will have an output capacity ranging from
200,000kw to 500,000kw.  Its construction cost is estimated at 60-150
billion yen.
     The power plant will be fueled by coal, with output efficiency in the
30-40% range.  When it starts operating, Enron will become the first
company to retail in-house-generated electric power in Japan without
relying on surplus power sold wholesale by steelmakers and oil firms.
     The Japanese electric power industry has experienced growing
competition since the deregulation of electricity retailing to large-scale
users in March.  Diamond Power Corp., a wholly owned subsidiary of
Mitsubishi Corp. (8058), on Thursday of last week outbid two other firms,
including Tokyo Electric Power Co. (9501), to win a contract to supply
electricity to the Ministry of International Trade and Industry.
     (The Nihon Keizai Shimbun Friday morning edition)

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