By Jay Alabaster – Japan’s richest entrepreneur outlined a plan on Monday to rebuild the country’s energy infrastructure in the wake of its nuclear disaster, shifting the majority of supply to natural, renewable resources by 2030. Masayoshi Son, founder and CEO of SoftBank, was speaking at the launch of his Japan Renewable Energy Foundation. He said Japan could shift to renewable energy sources for 60% of its electricity requirements over the next two decades, calling for a 2 trillion yen (£16.34 billion) “super grid” across the country, and underwater off the coast, that would zip electricity around cheaply and efficiently to meet demand.
“Japan is a country that is riddled by earthquakes,” Son said at a conference hall in central Tokyo. “We must minimise our use of nuclear power over the next 20 years.”The business icon spoke six months after an earthquake triggered a tsunami that ravaged a large portion of Japan’s northeast coast, flattening towns and triggering meltdowns at a nuclear power plant that supplied much of Tokyo’s electricity. The country’s power companies are still struggling to meet demand, and the government has vowed to lessen dependance on nuclear plants, though Japan has few traditional energy resources of its own.
He promised to invest in ventures that backed renewable energy and called for opening up the power industry to allow for more competition. More openness would lead to opportunities for new players like Son, who has made his fortune forcing his way into the formerly tightly run business realms of internet providers and mobile operators. The business leader has already invested 1 billion yen (£8m) of his own money to create the foundation, and announced on Monday that SoftBank would invest 10-20 billion yen in a new renewable energy business. Read the full article: SoftBank founder backs Japan’s shift to renewable energy
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