The interests of Tepco, which needs more fuel-efficient facilities but is short of money, align with those of the Mitsubishi group, which wants to build a track record in cutting-edge technologies to expand its power business abroad. Most of the needed funds will be procured through project financing. Tepco will run the plants and buy electricity generated at the facilities. The plants will employ integrated gasification combined-cycle technology, in which exhaust heat from power-generating gas turbines is reused to produce even more electricity. Power output will be about 20% higher than conventional coal power plants using the same amount of fuel. Another advantage is that Tepco will be able to use cheaper, low-grade coal.
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