Tokyo Electric Power Co., Japan’s largest utility, suspended the restart process of its nuclear power plant in Niiga
ta prefecture, less than a day after resuming its first reactor since the 2011 Fukushima disaster.
TEPCO, as the utility is known, said it was forced to stop the process for the No. 6 reactor at its Kashiwazaki Kariwa pla
nt on Thursday due to an issue with an electrical part, according to a spokesperson. The unit began the restart process a little after 7 p.m. local time on Wednesday.
Kashiwazaki Kariwa is the world’s biggest nuclear power plant and its restart is a turning point for Japan, which is still grapp
ling with the fallout from the Fukushima meltdown. It took Tepco years to secure local approval to restart the facility due to safety missteps and concerns.
Thursday’s issue was with a part inside the control panel used to operate and monitor the reactor’s control rods that regulate t
he nuclear chain reaction, the spokesperson said. It was not immediately clear when the process to restart the plant would continue.
Tepco shares, which had closed 5% higher the day before, were trading 2% lower at 704.60 yen ($4.45) as of 12:47 p.m. local time.
The private equity firm has held early talks with potential advisers to explore options for London-based McGill, the people s
aid, asking not to be identified as the information isn’t public. McGill could be valued at more than $1 billion in a deal, the people said.
A process could start later this year, though Warburg could still opt to keep the business, the people added. A representative for Warburg declined to comment. A representative for McG
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ill also declined to comment, saying the management team is focused on running the company and executing the strategy for long-term growth.