Shikoku Electric Power Co Inc
9507
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Shikoku Electric Power Company operates the Ikata Nuclear Power Plant, a three-unit facility on Japan's Ehime Prefecture coast. Unit 1 was permanently shut down in 2016, while Unit 2 remains operational. The company's environmental record is defined by the 2011 Fukushima Daiichi nuclear disaster, which triggered a global reassessment of nuclear safety and environmental risk. While Shikoku Electric's specific facilities were not the direct source of that contamination, the company operates within an industry whose core technology carries catastrophic environmental consequences in the event of failure — consequences demonstrated by the widespread radioactive contamination of land and sea from the Fukushima meltdowns. The environmental_damage exclusion applies to industries where operational negligence or natural disaster can cause irreversible ecological harm on a continental scale, as evidenced by the ongoing challenges of radioactive water discharge and soil remediation in Japan.
Shikoku Electric Power Company operates approximately 1,450 MW of coal-fired generation across two power stations. The Saijo Power Station in Ehime Prefecture includes Unit 1R (500 MW, ultra-supercritical, commissioned 2023 to replace a retired 156 MW unit) and Unit 2 (250 MW, subcritical, 1970), for a combined 750 MW. The Tachibana-wan Power Station in Anan, Tokushima Prefecture includes a single 700 MW ultra-supercritical coal unit online since 2000. Coal accounts for roughly 44% of the company's installed thermal capacity and a higher share of actual generation, given coal plants' higher capacity factors relative to oil peakers.
The company's 2024 Integrated Report describes a "Carbon Neutral Challenge 2050" roadmap that includes ammonia co-firing at coal plants as a transition measure — not a commitment to retire coal assets. The medium-term management plan through 2025 announced no coal plant closures. Saijo Unit 1R, commissioned in 2023, represents a recent capital commitment to coal generation with a multi-decade expected operating life.
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