[Brief translation]
Xenesys Inc., a venture company for energy sector, will start generation project using temperature difference of Ocean water in Kingdom of Saudi Arabia. This is the first commercial implementation and by this summer they will establish a new company with Saudi Partners.
When Mr. Koizumi, Japanese prime minister visited Kingdom of Saudi Arabia, Saudi government requested Japanese government for cooperation in the field of generation and desalination. Japanese government is ready to increase investment to Kingdom of Saudi Arabia, the main oil exporter to Japan and both governments are ready to support this project as an example of investment by the venture company.
The capital of the joint venture company is SR2 million, 40% by Xenesys and 60% by Saudi investors including Jamjoom group. Their technology applies warm sea water to heat and vaporize ammonia which can be boiled at minus 33 degrees Celsius. The vapor rotates turbines and then generates electricity.
They will start construction of pilot plant producing 3,000kW power output and 2,000 tons of water per day within the year.
They are plan to construct the plant adding on current generation facilities and increase their efficiency. The construction will cost USD8 to 17milion per unit and they estimate to collect the investment in 3 to 4 years.