Jonathan HolmesJonathan Holmes• 2nd• 2ndMBA, Deputy Director, Global Sales Strategy at ANA Cargo Inc. Disclaimer: Comments and opinions are my own.MBA, Deputy Director, Global Sales Strategy at ANA Cargo Inc. Disclaimer: Comments and opinions are my own.
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Not a fan of CCP projects, but when it comes to nuclear power China is showing everyone how it’s done. $17 billion for 6 units is about a quarter of what it would cost in the West and they are on track to completion in 5-6 years each.
China's State Council has authorized the construction of six new nuclear power units, indicating a major leap in the nation's ambitious and cost-effective expansion of nuclear energy. Significantly, the approved projects will adopt the HPR1000 (Hualong One), which is based on the Westinghouse AP1000 and CGN ACPR-1000, pressurised water reactor design.
These approvals come after a series of 10 new reactors sanctioned in 2022, demonstrating China's sustained commitment to economical nuclear power expansion. This commitment is not only quantifiable in the number of new projects but is also reflected in their safety and quality emphasis, a benchmark that these projects have maintained while still outperforming their western counterparts in cost-effectiveness.
Additionally, the Ningde plant alone has generated an impressive 257.9 billion kilowatt-hours of electricity as of June 30, 2023, with its four units. This number is set to increase with the construction of units 5 and 6. When operational, these new units across the three plants will significantly add massively to China's total electricity output.
This progress marks a remarkable stride in the global nuclear energy arena, reaffirming nuclear power's key role in delivering affordable reliable and abundant clean energy. It emphasizes the need for continued cost-effective investment and technological advancement to ensure a secure, safe, and sustainable energy future.
#NuclearPower #CleanEnergy #CostEfficiency
bloomberg.com • 1 min read
China Approves Six Nuclear Reactors at $17 Billion Investment