GE offers support over nuclear crisis
By Paul de Bendern |
March 15, 2011, Tuesday
|
Print Edition
Print Edition
THE head of General Electric Co offered Japan support yesterday to deal with the country's worst ever nuclear power crisis.
Engineers in Japan are scrambling to prevent a meltdown at three reactors after Friday's devastating earthquake and tsunami forced an automatic shutdown of the units.
GE built the first reactor at the Fukushima Daiichi nuclear power complex, operated by Tokyo Electric Power Co, and with Toshiba Corp it manufactured the second.
"Clearly we are offering any kind of technical assistance to our customer TEPCO and the government of Japan as they go through the recovery efforts with the nuclear power plants," Chief Executive Jeff Immelt said in New Delhi, India.
"It's early days. Let people do exploration of what happened (in Japan) and let it take its course," he said. "We are still only 72 hours from this earthquake and tsunami. A lot is still being understood."
"Our first priority is to support the government and people of Japan," he said, adding that GE will donate US$5 million to the relief effort and is also offering technical assistance to Japanese clients, the government and its partner there.
Japan's battle to avert a full-scale meltdown could damage the global nuclear energy industry, and derail plans to build dozens of new power plants, analysts said.
In 2007, GE combined its nuclear ventures with Hitachi Ltd of Japan, on the expectation of a nuclear renaissance in the coming years.
"There is now almost a 50-year track record of nuclear power that people can look back on and make judgments about," Immelt said.
GE remains keen to tap a potential US$150 billion atomic market in India. Local opposition to expanding nuclear energy may rise due to the Japanese crisis, analysts said.
A provision in India's nuclear liability law that gives it the right to seek damages from plant suppliers if there is an accident has raised concerns among companies.
Engineers in Japan are scrambling to prevent a meltdown at three reactors after Friday's devastating earthquake and tsunami forced an automatic shutdown of the units.
GE built the first reactor at the Fukushima Daiichi nuclear power complex, operated by Tokyo Electric Power Co, and with Toshiba Corp it manufactured the second.
"Clearly we are offering any kind of technical assistance to our customer TEPCO and the government of Japan as they go through the recovery efforts with the nuclear power plants," Chief Executive Jeff Immelt said in New Delhi, India.
"It's early days. Let people do exploration of what happened (in Japan) and let it take its course," he said. "We are still only 72 hours from this earthquake and tsunami. A lot is still being understood."
"Our first priority is to support the government and people of Japan," he said, adding that GE will donate US$5 million to the relief effort and is also offering technical assistance to Japanese clients, the government and its partner there.
Japan's battle to avert a full-scale meltdown could damage the global nuclear energy industry, and derail plans to build dozens of new power plants, analysts said.
In 2007, GE combined its nuclear ventures with Hitachi Ltd of Japan, on the expectation of a nuclear renaissance in the coming years.
"There is now almost a 50-year track record of nuclear power that people can look back on and make judgments about," Immelt said.
GE remains keen to tap a potential US$150 billion atomic market in India. Local opposition to expanding nuclear energy may rise due to the Japanese crisis, analysts said.
A provision in India's nuclear liability law that gives it the right to seek damages from plant suppliers if there is an accident has raised concerns among companies.
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