Out-Law News | 10 Sep 2020 | 11:39 am | 1 min. read
China's cabinet has approved the building of two nuclear power projects at a cost of 70 billion yuan (US$10.24 billion). The plants are Hainan Changjiang phase 2 and Zhejiang San’ao phase 1.
World Nuclear News has reported that the Changjiang units will be built by a joint venture between China National Nuclear Corporation and China Huaneng Group and is expected to go live in 2025. The Hainan Changjiang nuclear power plant phase 2 project has been scheduled to operate from 2026.
China's cabinet considers the construction of nuclear power projects "an important measure to expand effective investment, enhance energy support and reduce greenhouse gas emissions,” according to a report.
Infrastructure expert John Yeap of Pinsent Masons, the firm behind Out-Law, said: "China's nuclear power generation, at around 45.4GW makes it the third largest globally, and given that it currently has 11 reactors under construction, the sector continues to develop even though it makes up just around 5% of the country's total generation currently."
"The announcement of the two new projects therefore needs to be viewed in this context where there is strong government commitment to look to nuclear power generation as a key component in countering the greenhouse gas emissions from its fleet of coal fired power plants," he said.
According to the blue book published by China's nuclear association this June, China is expected to have 51 nuclear facilities in operation by the end of this year, with an installed capacity of 52 GW and will have total installed capacity of 70 GW of nuclear facilities in operation by the end of 2025.