Japanese steelmaker JFE Steel has abandoned its plans to build a gas-fired power plant in Chiba, Tokyo.
The mining giant was working closely with Chugoku Electric Power on the project. This carbon-efficient facility was supposed to be another step in Japan’s path to becoming carbon-neutral by 2050.
The two companies shelved the plan completely after considering the feasibility of wholesale power price and utilization according to a spokesperson. JFE and Chugoku Electric may consider alternative plans for the site.