Recent progress on fast ignition (FI) and cooled Yb:YAG ceramic laser enable us to design an IFE power plant with a 1MJ-class, compact laser whose output energy is 1/4 of previous central ignition scheme. Basing on the FI scheme, we conceptually designed a laser fusion power plant driven with cooled-Yb:YAG, ceramic lasers. The cooled Yb-YAG ceramic was newly chosen as the laser material. We found that the heating laser for ignition could be constructed with the cooled Yb:YAG ceramics as well as the compression laser with acceptable electricity-laser conversion efficiencies including the electric power for the cooling system. A new reactor scheme for a liquid wall reactor that has no stagnation point of ablated gas was proposed.