Chugoku Electric Power said on September 25, 2026 that it has decided to raise ¥149.0bn through a transition loan from eight financial institutions, backed by a guarantee from the GX Promotion Organization, an authorized corporation established under Japan's GX Promotion Act to support corporate decarbonization investment through debt guarantees.
The loan is not a one-off. It is the second time that Chugoku Electric has used the organization's financial support for such fundraising, following a financing arranged on March 31, 2026. The company said it will keep considering further use of the scheme as its decarbonization investment continues over the medium and long term.
| Item | Detail |
|---|---|
| Financing amount | ¥149.0bn |
| Contract date | September 28, 2026 |
| Execution date | September 30, 2026 |
| Guarantor | GX Promotion Organization |
| Use of proceeds | Safety countermeasure construction at Shimane Nuclear Power Station Unit 3; repowering of a hydropower plant in Ochi District, Shimane Prefecture |
| Lenders | Mizuho Bank, Development Bank of Japan, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, MUFG Bank, Resona Bank, SBI Shinsei Bank, Shinkin Central Bank |
The money is earmarked for two named projects: safety countermeasure construction at Shimane Nuclear Power Station Unit 3 in Matsue, Shimane Prefecture, and a repowering of a hydropower plant in Ochi District, Shimane Prefecture, where the company will replace turbines, generators and related equipment to lift output and efficiency. The disclosure describes capital spending on safety-related construction at Unit 3; it says nothing about the reactor's operating status, and readers should not infer from this financing decision that the unit is running.
Eight lenders are providing the facility: Mizuho Bank, the Development Bank of Japan, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, MUFG Bank, Resona Bank, SBI Shinsei Bank and Shinkin Central Bank, with the GX Promotion Organization acting as guarantor. The loan contract is scheduled for signature on September 28, 2026, with funds due to be disbursed on September 30, 2026. Both dates sit just ahead of the announcement, meaning the company has decided on the financing but has not yet executed it.
Chugoku Electric tied the financing to regional industrial policy, saying a stable supply of decarbonized power is a precondition for attracting data centers and other industrial facilities to the Chugoku region, and that the investment supports the region's industrial competitiveness and digital transformation. That framing gives lenders and regional planners a concrete marker for how the GX guarantee scheme is being used to fund nuclear-adjacent and hydropower capital spending rather than new generation capacity outright.