TOKYO, Oct 17 (Reuters) - Japan's Chubu Electric Power ( CHUEF )

plans to further invest in overseas decarbonisation

assets, including renewable energy, small modular reactors

(SMRs), and carbon capture storage (CCS), to fuel future growth,

a company executive said.

Chubu, a major regional electric utility, outlined a

long-term strategy in 2021, including a plan to spend 400

billion yen ($2.7 billion) on overseas assets by decade's end,

aiming to generate recurring profit of 20 billion yen from them

by 2030.

"We are on track to achieve our 2030 goals for global

business," Hiroki Sato, senior managing executive officer, told

Reuters in an interview on Thursday, though he did not give a

specific figure.

Chubu, which holds a 20% stake in Dutch energy firm Eneco,

has made several investment decisions since 2021, including

stakes in Canada's geothermal venture Eavor Technologies, U.S.

SMR startup NuScale Power ( SMR ), and Vietnam's renewables

company Bitexco Power.

The utility also partnered with BP on a CCS project,

aiming to collect CO2 from industries at the port of Nagoya in

central Japan and export it for storage abroad.

Sato, with extensive ties in the global energy industry,

envisioned geothermal, SMR, and CCS as key pillars driving

Chubu's future growth and supporting climate change mitigation

efforts.

"Eavor's technology could be a game changer for the global

geothermal market," Sato said, expressing his intent to bring

the technology to Japan.

He also highlighted the potential for SMRs in regions such

as Eastern Europe, Southeast Asia, and the United States.

Amazon.com's ( AMZN ) recent move to develop SMRs underlined

that nuclear power and renewables are the best energy sources to

meet growing demand for data centres, he added.

With the global trend backed by the agreement of more than

20 countries during last year's COP28 climated conference to

boost nuclear power capacity, "SMRs and next-generation reactors

are expected to represent a substantial portion of nuclear

sector," Sato said.

"Our priority is also to keep Japan's energy options open

with emerging global technologies."

Chubu Electric aims to expand its global decarbonised energy

portfolio through 2030, potentially boosting exposure to

existing assets, while benefiting from investments and domestic

operations, Sato said.

($1=149.44 yen)