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METI announces 18 priority areas for 2 trillion yen decarbonization fund

  • April 10, 2021
  • , Nikkei , p. 5
  • JMH Translation

On April 9, the Ministry of Economy, Trade and Industry (METI) announced 18 priority areas for the 2 trillion yen fund to support corporate research and development to create a decarbonized society. Projects will span such areas as reducing the cost of offshore wind and solar power generation, establishing hydrogen supply chains, and developing rechargeable automotive batteries, and METI will make a decision at a later date on the details, such as goals and budget allocations. After the decisions are made, METI will call for applications from potential participants and launch the projects in the first half of FY2021.

 

METI held a document-based meeting of the expert panel on April 6-8 and released a draft of the fund policy. The expert panel assigned the 14 focal sectors in the Japanese government’s Green Growth Strategy announced at the end of FY2020 to the 18 project areas. Three working groups, “green power,” “energy mix,” and “industrial structure,” will discuss the specific project objectives and allocations. The working group on the energy mix will hold a meeting on April 15.

 

18 priority areas for the 2 trillion yen fund

Green power

1.     Reducing the cost of offshore wind power generation

2.     Reducing the cost of next-generation solar power generation

Energy mix

3.     Establishing supply chains to expand hydrogen supply

4.      Manufacturing hydrogen through renewable energy

5.     Utilizing hydrogen in steel manufacturing

6.     Establishing supply chains to expand the supply of ammonia for fuel

7.     Manufacturing raw materials for plastics using carbon dioxide (CO2)

8.     Manufacturing fuel using CO2

9.     Reducing the cost of manufacturing CO2-absorbing concrete

10.  Separating and recovering CO2

11.  Recovering CO2 emitted by incineration facilities

Industrial structure

12.  Developing rechargeable batteries for electric vehicles

13.  Revolutionizing automotive supply chains along with electrification

14.  Using autonomous vehicles in passenger transport and logistics

15.  Raising energy efficiency in semiconductors and data centers

16.  Developing aircraft powered by hydrogen and electricity

17.  Developing ships powered by hydrogen and ammonia

18.  Reducing CO2 in the food, forestry and fishery industries

 

The number of projects may change depending on subsequent discussions by the expert panel. About 30% of the 2 trillion yen will be put aside for possible additional projects. The basic policy sets the standard amount of support at 20 billion yen or more, which is higher than the average research and development costs of the projects.

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