China has approved the construction of 11 new nuclear reactors across five different sites. This decision, announced on Monday, represents the largest number of nuclear reactor permits issued at once in the country’s history.
The approved projects will be spread across the provinces of Jiangsu, Shandong, Guangdong, Zhejiang, and Guangxi. The total investment for these reactors is estimated to be at least 220 billion yuan (approximately $31 billion), with construction expected to take around five years.
This latest approval continues China’s trend of aggressive nuclear expansion, following the approval of 10 new reactors in each of the previous two years. The country already leads the world in the number of nuclear reactors under construction and is projected to become the world’s largest atomic power generator by 2030, surpassing both France and the United States.
Among the approved projects, six reactors will be operated by CGN Power Co., three by China National Nuclear Corp. (CNNC), and two by State Power Investment Corp. Notably, the approvals include a high-temperature gas-cooled reactor at the Xuwei plant in Jiangsu, which represents a fourth-generation design with advanced safety features.
Currently, China has 56 operational nuclear reactors, which contribute about 5% of the country’s total electricity demand. Industry analysts predict that China will continue to approve around 10 new reactors annually for the next three to five years.
This massive nuclear expansion aligns with China’s commitment to diversifying its energy mix. The predominant use of the Hualong One reactor design in these new projects signals China’s push for technological self-reliance in its nuclear industry.
Information for this story was found via Reuters, Bloomberg, and 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.
The West Needs To Level The Playing Field To Compete With China
Access to the raw materials of the new green economy is increasingly a high-stakes chess...