China Approves 10 Nuclear Reactors in $27 Billion Power Push

China has approved construction of 10 nuclear reactors worth nearly $27.4 billion, accelerating the world’s most ambitious atomic energy program as the country works to meet climate goals while reducing reliance on coal, state media and companies involved in the projects said.

The approvals, granted at an April 27 State Council meeting led by Premier Li Qiang, will add approximately 12 gigawatts of generating capacity across five sites, according to statements from China General Nuclear (CGN) and China National Nuclear Corporation (CNNC).

The reactor approvals mark the fourth consecutive year China has authorized at least 10 new units annually, underscoring Beijing’s commitment to its target of 200 gigawatts of nuclear capacity by 2035, more than tripling its current fleet.

“Construction will begin when the Permit for Nuclear Power Station Construction has been obtained from the National Nuclear Safety Administration,” CGN said in a statement, adding that it was “carrying out various preparatory work for the construction of the above-mentioned units in an orderly manner.”

The new units will employ domestically developed Hualong One reactors and CAP1000 technology, China’s version of the Westinghouse AP1000 design, according to documents released by the power companies.

Projects receiving authorization include new phases at Fangchenggang in Guangxi region, Taishan in Guangdong province, Sanmen in Zhejiang province, and Haiyang in Shandong province, along with units at the Xiapu site in Fujian province.

China currently operates 58 reactors generating 56.9 gigawatts, with another 30 units totaling 34.4 gigawatts already under construction, according to World Nuclear Association data.

The push comes as China, the world’s largest carbon emitter, aims to peak emissions before 2030 and reach carbon neutrality by 2060. Nuclear power, which produces minimal greenhouse gases during operation, forms a growing part of this strategy alongside renewable sources.

State Power Investment Corporation will lead development at the Haiyang site, which already hosts two AP1000 reactors with two more CAP1000 units under construction.

China’s rapid nuclear expansion contrasts with slower development in most Western countries, where projects often face financing challenges and lengthy regulatory processes.

According to China Daily, the newly approved projects represent an investment of over CNY200 billion ($27.4 billion), providing stimulus to local economies and manufacturing sectors specializing in nuclear components.



Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why the Market May Be Misreading Iran | David Woo

Why US Fertilizer Supply Could Matter a Lot More Now | Pat Varas – Sage Potash

Roscan Gold: Mali Discount Hits Kandiole PEA

Recommended

Antimony Resources Expands New Discovery Following Trenching

Silver47 Kicks Off 7,000-Meter Drill Campaign at Nevada’s Hughes Project

Related News

Gold Hits Record as China Launches Insurer Pilot Program

Gold prices reached an all-time high of $2,941 per ounce on Tuesday as China began...

Tuesday, February 11, 2025, 02:10:00 PM

Trudeau Chief Of Staff Katie Telford Testifying On Chinese Interference? Liberals Want An Election Instead

On Monday, the Conservatives introduced a motion in the House of Commons asking that Prime...

Tuesday, March 21, 2023, 03:04:00 PM

Xi Jinping Says Taiwan’s Unification with China Is ‘Inevitable’

In a speech commemorating the 130th anniversary of Mao Zedong’s birth, Chinese President Xi Jinping...

Wednesday, December 27, 2023, 01:07:00 PM

China Responds To Canada’s Order On Lithium Mining Investments

China is opposed to Canada’s decision to order three Chinese mining companies to divest their...

Tuesday, November 8, 2022, 03:05:00 PM

Kyle Bass Reminds Texas That A Billionaire With Ties To The Chinese Communist Party Owns A Massive Piece Of Land Right Next To The Laughlin Air Base

When Kyle Bass, a Dallas-based hedge fund executive and a staunch critic of the Chinese...

Monday, August 1, 2022, 05:07:00 PM