Chubu Electric to Buy Hydro Power Projects from Mie Prefecture

Chubu Electric is in talks to acquire 98MW of hydro power plants from the state government of Mie Prefecture for JPY10.5bn or $135 million.

The talks with the Prefectural Government stared before the 11 March 2011 earthquake.

Chubu currently generates much of the power from its gas-fired power plants and the 3,617MW Hamaoka nuclear plant, which is expected to be closed until December 2012.