Chugoku Electric raises $940M transition loan for nuclear, hydro decarbonisation
What's the deal? The Chugoku Electric Power Co.Dealroom has a profile for this one. Try Dealroom → has raised US$1.15B through a transition loan backed by Japan's GX Acceleration AgencyDealroom has a profile for this one. Try Dealroom →. The proceeds will fund decarbonisation investments as the utility targets carbon neutrality by 2050.
Who's involved? The lenders are Mizuho BankDealroom has a profile for this one. Try Dealroom →, Development Bank of JapanDealroom has a profile for this one. Try Dealroom →, Sumitomo Mitsui Banking CorporationDealroom has a profile for this one. Try Dealroom →, Sumitomo Mitsui Trust BankDealroom has a profile for this one. Try Dealroom →, MUFG BankDealroom has a profile for this one. Try Dealroom →, Resona BankDealroom has a profile for this one. Try Dealroom →, SBI Shinsei BankDealroom has a profile for this one. Try Dealroom →, and Shinkin Central BankDealroom has a profile for this one. Try Dealroom →. The GX Acceleration Agency acted as guarantor.
Where's the money going? Funds will cover safety enhancement works for Unit 3 of the Shimane Nuclear Power Station and repowering of the Akatsuka Hydroelectric Power Station, including replacement of turbines, generators, and related equipment.
Why now? This is Chugoku Electric's second financing using the GX Acceleration Agency's debt guarantee program, following a deal on March 31, 2026. The loan, agreed September 28 and disbursed September 30, is based on the company's Sustainable Finance Framework.
The signal: State-backed guarantees are becoming a core tool for Japanese utilities financing the long, capital-heavy shift to net zero — blending nuclear restarts with renewable upgrades under a single transition banner.
Read more: ca.marketscreener.com
Image credit: IAEA Imagebank
