(Bloomberg) -- Kansai Electric Power Co. is planning what would be Japan’s second transition bond to finance nuclear power projects, in the latest sign the nation’s pushing ahead with sales of debt that’s unpopular abroad but is supported by the government domestically.

The Osaka-based utility is planning to sell about ¥30 billion ($191 million) of transition notes in two tranches in July, according to SMBC Nikko Securities Inc., one of the underwriters. It’s planning to use the funds to invest in the company’s carbon neutral projects such as nuclear power and zero-carbon thermal power projects.

Sales of transition bonds in Japan have surged after the government issued such debt earlier this year, providing implicit support. The government has said those securities allow a more gradual accomplishment of climate goals for an industrialized nation like Japan. But the debt has met with skepticism abroad because the securities typically don’t finance specific environmental projects like green bonds do. Kyushu Electric Power Co. sold similar bonds last month.

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